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InvestmentsMexico prepared to escalate auto content dispute with U.S, minister says By...

Mexico prepared to escalate auto content dispute with U.S, minister says By Reuters

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© Reuters. FILE PHOTO: Mexican Economy Minister Tatiana Clouthier gestures throughout an interview with Reuters in Mexico City, Mexico, on January 11, 2021. REUTERS/Dave Graham

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By Sharay Angulo

MEXICO CITY (Reuters) -Mexico’s Economy Minister Tatiana Clouthier mentioned on Thursday she was working with the auto sector and the Canadian authorities to decide when to name for an arbitration panel https://www.reuters.com/business/autos-transportation/exclusive-mexico-seek-expert-panel-fix-auto-dispute-with-us-sources-say-2021-10-26 to resolve a dispute with the United States over auto content guidelines.

Mexico in August requested that the U.S. authorities provoke formal consultations on the dispute over the foundations, which have been agreed to within the United States-Mexico-Canada Agreement (USMCA).

But Clouthier mentioned Washington has not budged in its stance.

“The U.S. government has a wrong interpretation, in our view and Canada’s view,” Clouthier instructed lawmakers in Mexico’s Congress.

“We are about to start the next stage … We’re working with the auto sector and Canada to determine the right moment to start the panel.”

Using the panel would escalate the tussle over automotive content guidelines, which have been on the coronary heart of former U.S. President Donald Trump’s drive to change the North American Free Trade Agreement (NAFTA) with what turned USMCA.

Mexico favors a extra versatile interpretation of the auto trade laws than the United States, which sought an overhaul of NAFTA so as to defend U.S. manufacturing jobs.

U.S. commerce unions argue that jobs have migrated to lower-cost Mexican crops since NAFTA first took impact in 1994.

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