NFTC head: U.S. NAFTA approach a 'de facto withdrawal,' benefits China

U.S. NAFTA renegotiation proposals are akin to a "de facto withdrawal" from the agreement and would diminish North American competitiveness to the advantage of China, the president of the National Foreign Trade Council said Oct. 19, calling the administration's policy direction a "huge gift" to Asian competitors. "What does it mean to withdraw from this agreement, or de facto withdraw by imposing such high content requirements that nobody meets it? It really means that costs go up in manufacturing vehicles...