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Auto-Parts Dispute Taps the Brakes on Pacific Trade Deal
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The fears within Mexico's auto industry that the TPP will allow imports of cheap Chinese auto parts hurting its auto industry, and reversing years of gains made under NAFTA. Canada also has fears about the TPP for its auto industry. Japan uses China and Thailand as part of its supply chain. China is not part of the TPP. Add to this the UAW and Detroit's suspicion of TPP concessions to Japan. This has stalled U.S. negotiations with Japan on the TPP trade agreement in 2015.
The conflicting objectives of Japan and Mexico, Canada, UAW and the U.S., relating to auto parts and components during negotiations for the TPP
09/04/2015
Japan uses China and Thailand as part of its supply chain. Mexico has made gains under NAFTA it does not want to lose with large imports of cheap Chinese auto parts. The U.S. auto industry is somewhere in the middle and the UAW trade union wants to preserve American jobs. The different interests of Canada, Mexico, Japan and the U.S. make it harger to negotiate aspects of the ATT related to the auto industry. The auto industry in the U.S. is not a significant beneficiary from passing of the TPP.
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A study by Prof. Petri of Brandeis University, shows economic output going up by 0.4% by 2025 or $77 billion for the U.S. as a result of the TPP agreement. Biologic drugs, with long term patent protection, software engineering services, high tech industry are the winners, losers are the Detroit auto industry facing higher imports, light manufacturing in textiles and paper, and some heavy manufacturing sectors. Douglas Irwin of Datmouth and other experts say it is not clear how much of the benefit will affect consumers and businesses in the U.S. Most of the tariff cut gains are already made and import duties as a percentage of total imports are down to 1.4% today. Experts say 4/5th of the benefits for the U.S. are not from tariff cuts but from new rules for trade in services, and new rules for investment and commerce. The agreement brings together Pacific area countries, including Canada, Australia, New Zealand, Chile, and Japan, Malaysia, Singapore and Vietnam. Agriculture is protected in Canada especially in Quebec, and in Japan, which means tough negotiations to open up this sector. Politically the TPP is a response by the U.S. and Japan to the Infrastructure Investment Bank set up by China with support from Europe and India.
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Linked Articles
Auto-Parts Dispute Taps the Brakes on Pacific Trade Deal
Wall Street Journal 09/04/2015
Economist 08/29/2015
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