Canada, Mexico invited to join nations holding talks

Article by Anita Panait, on June 21, 2012

Leading auto companies in the United States are heavily opposing Japan’s request to join nations holding talks to approve a trade pact in the Pacific region. Ford Motor Co., General Motors Co. and Chrysler LLC do not want Japan to be part of the Trans-Pacific Partnership agreement, saying that the nation's car market needs to be more open to global competition.

Texas Representative Kevin Brady, chairman of the House Ways & Means Committee trade panel, remarked that new entrants to the talks "must not lower the ambition of the Trans-Pacific Partnership or delay its conclusion." According to Brady, setting high standards would allow the agreement to give its participants leverage when dealing with countries including India and China, thereby encouraging them to abide by similar rules.

Meanwhile, Canada and Mexico were invited to join the nine nations holding the talks. In a statement issued at the Group of 20 summit, Canadian Prime Minister Stephen Harper said the agreement will enhance trade in the Asia-Pacific region and will provide greater economic opportunity for Canadians and Canadian businesses. Harper said Canada will enter the talks "at the earliest opportunity."

The entry of Canada and Mexico would make the Trans-Pacific Partnership agreement the largest trade accord for the United States, as it links North American Free Trade Agreement partners with eight Pacific-region nations.  Brady called on Congress to grant the White House a fast-track authority to discuss accords subject to vote by lawmakers.

Brady remarked that if the Pacific accord is completed quickly, they “have to be prepared to consider it in Congress when that time comes." Eric Farnsworth, vice president of the Council of the Americas in Washington, said that including Mexico and Canada in the agreement would benefit manufacturing supply networks already established in North America.

Topics: canada, mexico

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Volkswagen Group’s dieselgate saga continues, but it appears the German company would be able to get out of trouble, but it would not be unscathed. This development comes as Volkswagen...
by - January 22, 2017
When a car has been in the market for nearly six years, it loses some of its luster and its customers tend to go for the all-new model with a...
by - January 22, 2017
Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 2017
Mercedes-Benz has revealed that in 2017, its series 124 coupé will be celebrating its 30th anniversary. While this itself is a significant event, it will also mean that this model...
by - January 21, 2017
BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries