October 30, 2019
The president of the Canadian Auto Parts Manufacturers Association can only describe U.S. President Donald Trump’s latest policy pitch for the auto industry in two words: Breathtakingly stupid.
That’s what Flavio Volpe calls the Trump administration’s desire for specific language that would allow it to unilaterally administer the production rules for companies.
The issue is being discussed between Trump administration officials, U.S. congressional staff, and domestic and foreign automakers in the context of the legislation that lawmakers will vote on for the new United States-Mexico Canada Agreement to take effect.
“If you’re going to tell the free market, if you’re going to tell large trans-nationals where to invest their capital and where to source you’re products, you’re doing exactly what you are fighting the Chinese on,” Volpe told BNN Bloomberg. “These are not state-owned enterprises, these are, for the most part, publicly traded companies.
“You’re building inefficiency into the system.”