NAFTA will become USMCA after Canada decided to join the US-Mexico Trade Agreement on Sunday. After a week of pessimism on the integration of Canada to this agreement, Canada joined Mexico and the US. USMCA’s text has been submitted to the Senate and is ready to be discussed, approved and ratified. Despite the pessimism that Minister of Economy Ildefonso Guajardo expressed last week on the entrance of Canada to the pact, the country finally reached an agreement with the US. President-elect Andrés Manuel López Obrador (AMLO) vowed to look for an agreement with Canada if no NAFTA was developed, but that will no longer be necessary.
In other key automotive topics, a new super charger that could give an EV 100km of autonomy in a charging time of five minutes. 3M developed the Cannon Cooled super charging system along ITT Cannon and launched it this week. Also, the second generation of Nissan LEAF, which was the first EV to reach the Mexican market, has arrived to Mexico.
During the Márquez Márquez administration, the FDI that arrived to Guanajuato increased 125 percent compared to the previous government. Check out what the governor of Guanajuato told Mexico Automotive Review in last week’s Interview of the Week.
The road ahead is clear. Check out what’s new in the automotive industry.
Tough Week for Free Trade Ends in Optimism
President-elect AMLO vowed to sign an agreement with Canada if no NAFTA is developed.
US-China trade war intensifies as new reciprocal tariffs enter force. The US applied a 10-percent tariffs on imported goods worth US$200 billion.
Mexican government submitted the first part of the USMCA agreement text to the Senate for approval and ratification.
Vehicle Electrification Advances
3M has developed a new super charger for EVs. It uses a super coolant that increases the device’s charging power significantly.
Mexico’s Automotive Momentum
Ninety percent of the credit that the State Government of San Luis Potosi obtained to support the installation of BMW in the state has been repaid.
AMDA demands that SAT publishes new fiscal rules that limit the imports of used vehicles, which have increased 20.9 percent in 2018.
GM supplier Android México opens a new manufacturing plant in Silao to cater for local SMEs.
Kia forecasts record sales for September. The company could become the fourth largest OEM by market share in that month.