U.S. vp to satisfy with U.S. automakers on commerce

WASHINGTON (Reuters) – U.S. Vice President Mike Pence and the administration’s high commerce official will meet with senior executives from Basic Motors (GM.N), Ford (F.N) and Fiat Chrysler (FCHA.MI) afterward Monday to debate points resembling commerce, the White Home mentioned in an announcement.

FILE PHOTO: U.S. Vice President Mike Pence speaks as he meets with members of the Venezuelan exile neighborhood, current Venezuelan migrants, different native leaders and officers concerning the persevering with devastation and unrest in Venezuela at Our Girl of Guadalupe Catholic Church in Doral, Florida, August 23, 2017. REUTERS/Joe Skipper

The assembly will cowl “commerce, commerce and manufacturing coverage and the way it impacts their enterprise” and also will embody Nationwide Financial Council Director Gary Cohn and U.S. Commerce Consultant Robert Lighthizer, the vp’s workplace confirmed.

Automakers have discovered themselves on the heart of disputes over renegotiating the North American Free Commerce Settlement (NAFTA), because the administration continues to push for extra guidelines on auto imports that the American producers have opposed.

Lighthizer is overseeing the renegotiation of NAFTA on behalf of the administration. The most recent spherical of negotiations of the three-nation commerce deal ended final week with little progress.

Automakers have been lobbying the administration to desert proposals that may require extra elements for vehicles be made in one of many three nations in an effort to keep away from hefty tariffs.

Mexico and Canada rejected the U.S. proposal to lift the minimal threshold for autos to 85 p.c North American content material from 62.5 p.c in addition to to require half of auto content material to be from the USA.

The assembly is scheduled for two:30 p.m. (1930 GMT) at Pence’s workplace.

Reporting by Susan Heavey and Ginger Gibson; Modifying by Andrew Hay

Our Requirements:The Thomson Reuters Trust Principles.

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