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Trade deal largely spares Canada, Mexico from any Trump auto tariffs

Reuters  |  WASHINGTON 

WASHINGTON (Reuters) - The new U.S.-Mexico-Canada Agreement on trade will preserve President Donald Trump's ability to impose threatened 25 percent global tariffs on autos while largely exempting passenger vehicles, pickup trucks and auto parts from Canada and Mexico, a side-letter to the agreement showed on Monday.Should U.S. President Donald Trump impose "Section 232" autos tariffs on national security grounds, Mexico and Canada would each get a tariff-free passenger vehicle quota of 2.6 million passenger vehicles exported to the United States annually.Pickup trucks built in both countries ...

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First Published: Mon, October 01 2018. 11:19 IST