Mexico reminds Trump of the rules
The recent threats by soon-to-be President Donald Trump to American carmakers which produce their vehicles elsewhere (Mexico in particular) and then import them into the USA, have drawn a response from the Mexican automotive association AMIA. This body points out that even if the USA withdraws from the USA-Canada-Mexico free trade body ‘Alena’, it will still remain in the World Trade Organization. As such, the country is bound by customs regulations, and the new president cannot simply apply the import taxes he wants. The WTC rules do not allow an import tax of above 2.5% for light vehicles, although this level is a far more substantial 23% for pickups, the USA’s preferred mode of transport.
(Image: wikipedia) | 11/01/2017 | Tim Harrup