During negotiations on the North American Free Trade Agreement, US demands may not be enough to return jobs to the automobile sector of the country, Reuters reports. Mark Wakefield from the consulting company AlixPartners notes that the increase in tariffs is not large enough and will not cause large-scale changes. Automakers are unlikely to give up multi-billion investment in enterprises and supply chains outside the US. To offset the expenses, it will be easier for them to pay duties of $800-900 per car and buy inexpensive parts from Asia. Vehicles that do not have enough components manufactured in the US or North America may be subject to tariffs of 25% in accordance with NAFTA regulations.
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...
Alphabet Inc.’s Google (GOOGL) said on Monday that it would not use Fitbit Inc.’s (FIT) health data to target advertisements in an attempt to address the European Union’s antitrust concerns about its proposed acquisition ...
U.S. President Donald Trump’s administration said on Monday that the small business pandemic aid program worth $660 billion was as a “wild success.” The data showed that 51 Million jobs for America’s small businesses ...