In NAFTA talks, U.S. seeking non-conforming auto tariffs above bound WTO rate

The U.S. is insisting in North American Free Trade Agreement modernization talks with Mexico that autos that don’t meet the deal's rule of origin face tariffs higher than 2.5 percent, the U.S.’ bound rate at the World Trade Organization, according to industry sources. The proposal, which Mexico opposes, is one of the last sticking points in NAFTA auto talks, these sources say. The U.S. today imposes a 2.5 percent tariff on imports of autos not covered by free trade agreements...