Economic news

U.S. auto industry benefits from NAFTA

The largest U.S. and world car makers, suppliers and dealers have launched a new campaign on Tuesday appealing to U.S. President Donald Trump not to depart from the North American Free Trade Agreement.

A new auto coalition “Driving American Jobs” includes General Motors Co, Toyota Motor Corp, Volkswagen AG, Hyundai Motor Co, Ford Motor Co and nearly every other major car maker, which consider that withdrawal from trade agreement would lead to a decline in vehicle output and a drop in jobs.

Trump has promised to leave the trade deal with U.S., Canada and Mexico, which is widely used by automakers who have output and delivery chains spread across the three countries.

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