US drops contentious auto-content proposal from NAFTA talks - The Globe and Mail

Omkar Godbole FXStreet Contributor

The Trump administration has dropped a contentious demand that all vehicles made in Canada and Mexico for export to the United States contain at least 50 percent US content, according to Canada's Globe and Mail.

The removal of a key roadblock has opened doors for a new North American Free Trade Agreement (NAFTA) and seems to have put a bid under the Canadian dollar. As of writing, the USD/CAD is trading at 1.3047 - down 0.18 percent on the day.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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