- Mexican auto lobby rejects U.S. NAFTA proposal on rules of origin
FILE PHOTO: Eduardo Solis, President of the Mexican Automotive Industry Association (AMIA), gestures during an interview with Reuters in Mexico City, Mexico May 22, 2017. AMIA President Eduardo Solis said the rules of origin enshrined in the current North American Free Trade Agreement (NAFTA) have been key in creating value and integrating the auto industries of Canada, the United States and Mexico. The administration of U.S. President Donald Trump has proposed raising the amount of NAFTA content in autos to 85 percent and securing 50 percent of the total for the United States. Solis called the U.S. proposal for country-specific content rules unacceptable, saying it violated World Trade Organization rules. Global automakers including General Motors Co (GM.N), Ford Motor Co (F.N), Fiat Chrysler Automobiles (FCHA.MI) and Volkswagen AG (VOWG_p.DE) all have plants in low-cost Mexico.
- Trump Makes Mess of Trade, US Economy Beware
America's closest neighbors, Mexico and Canada, rank high on Donald Trump's to-do list of allies to offend. The North American Free Trade Agreement, the president insists, is "the worst deal ever." He repeatedly demanded an insulting wall with Mexico and turned the usual trade skirmishes with Canada into World War II-and-a-half. Canada and Mexico certainly want NAFTA to continue, but they are now taking steps to reduce their reliance on trade with the United States. If tariffs returned to North America, Mexican factories would have incentives to replace American-made parts with parts made in Europe -- or in Mexico itself.
- Macron lawmaker wants 'rich list' study amid wealth tax unease
France's budget rapporteur on Thursday asked the government to spell out how much the rich stood to gain if a wealth tax was scrapped, as unease over President Emmanuel Macron's plan within his own party bubbles up. PARIS: France's budget rapporteur on Thursday asked the government to spell out how much the rich stood to gain if a wealth tax was scrapped, as unease over President Emmanuel Macron's plan within his own party bubbles up. Macron made good in early October on a campaign pledge to abolish the tax, earning him a "president of the rich" tag among critics. Last week they proposed an amendment to the budget bill to increase taxes on luxury yachts and precious metals. The 2018 budget aims to cut both taxes and spending as France seeks to restore its fiscal credibility with its European neighbours.
- How the trades unfolded - every player, every trade
DEVON SMITHGWS to EssendonTraded with pick 25 and the Giants' 2018 second-round pickFor pick 11, and the Bombers' 2018 third-round pick. DARCY LANGGeelong to CarltonTraded with the Cats' 2018 fourth-round pickFor pick 58 and the Blues' 2018 fourth-round pick. GARY ABLETTGold Coast to GeelongTraded with pick 24 and Gold Coast's 2018 fourth-round pickFor pick 19 and Geelong's 2018 second-round pick. PICK SWAPSt Kilda trades pick 59, pick 63 and their 2018 second-round pickFor Port Adelaide's pick 34 and a 2018 round-four pick. PICK SWAPPort Adelaide trades two 2018 third-round picksFor pick 46 and North Melbourne's 2018 third-round pick.
- Get ready for the smoke and mirrors of Putin 2018
In a slick promotional video announcing her candidacy, Sobchak said she is running as the "against all" candidate for disaffected Russian voters. (Alexander Zemlianichenko/Associated Press)In one way or another, Vladimir Putin has run Russia since Aug. 16, 1999, when he became prime minister of Russia. So when Sobchak's candidacy was first reported, there were groans from many Russia-watchers, many of whom suggested she was an obvious Kremlin spoiler. Russian opposition activist Alexei Navalny addresses an opposition rally in Moscow in 2015. No matter the reason for Sobchak's run, its worth paying attention close attention to the election.
- EMERGING MARKETS-Mexico peso falls again amid uncertainty about NAFTA talks
MEXICO CITY, Oct 18 (Reuters) - The Mexican peso slipped on Wednesday, continuing its volatile gyrations as talks to revise the North American Free Trade Agreement (NAFTA) deteriorate. The Mexican peso has seesawed as investors puzzle over what the contentious talks mean for the nation's future, dipping almost 0.5 percent on Wednesday. A day earlier, the United States, Canada and Mexico wrapped up the latest round of NAFTA renegotiations in Washington, D.C., trading barbs. U.S. President Donald Trump has repeatedly threatened to leave the pact, crying foul over the United States' trade deficit with Mexico. NAFTA is a critical pillar of the Mexican economy, which sends nearly 80 percent of its exports to the United States.