AUTOMAKERS RESPOND TO U.S.-MEXICO-CANADA TRADE DEAL CONCERNS REMAIN

Statement by John Bozzella, President and CEO of Global Automakers and spokesperson for Here For America

Washington, DC, Oct. 01, 2018 (GLOBE NEWSWIRE) -- "Canada’s decision to join the United States and Mexico in a new North American Free Trade Agreement (NAFTA) is an important step, but it does not alter the fact that the cost and complexity of complying with the new auto rules will pose serious challenges for U.S. automakers.

"Even more troubling are the punitive tariffs contemplated by the ongoing 232 investigation. Such tariffs would put as many as 750,000 American jobs at risk and raise vehicle prices by nearly $7,000, resulting in declining investment and less innovation.

"We are currently reviewing the text of the agreement."

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Here For America tells the story of international automakers and dealers, their ever-growing impact on the U.S. economy, and the benefits they provide to local communities. The contributions of international automakers and dealers are integral to the success of today's U.S. auto industry, the most vibrant and competitive auto market in the world. Here for America is an initiative of the Association of Global Automakers to increase public education about the importance of international automakers to American job creation, economic growth, technological innovation and strong communities. Visit www.hereforamerica.com and follow Here For America on Twitter and Facebook.Here For America tells the story of international automakers and dealers, their ever-growing impact on the U.S. economy, and the benefits they provide to local communities. The contributions of international automakers and dealers are integral to the success of today's U.S. auto industry, the most vibrant and competitive auto market in the world. Here for America is an initiative of the Association of Global Automakers to increase public education about the importance of international automakers to American job creation, economic growth, technological innovation and strong communities. Visit www.hereforamerica.com and follow Here For America on Twitter and Facebook.

Annemarie Pender
                    Here For America
                    202-650-5548
                    apender@globalautomakers.org

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