U.S., Japan Eye Possible Small Trade Deal by September
The United States and Japan are working on a trade deal involving agriculture and autos that could be agreed by President Donald Trump and Prime Minister Shinzo Abe when they meet in New York in September, three industry sources familiar with the discussions said on Tuesday. Reuters reports that an auto industry official said the deal could involve Japan offering U.S. farmers new access to its market in return for Washington reducing tariffs on certain Japanese auto parts. But he emphasized the talks remain fluid. Improved access to the Japanese market would help the United States compete with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade agreement among Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. Read more here.
Trump Rule to Ease Auto Mileage, Emissions Standards Delayed
The Trump administration’s rule to weaken Obama-era automobile efficiency requirements has been delayed until at least September, according to a person familiar with the matter. The Detroit News reports that the National Highway Traffic Safety Administration and Environmental Protection Agency had been aiming to finalize the plan this summer, with a now-former senior EPA official saying in June that it would be sent for White House review in “weeks.” Completing the scientific and economic analysis to justify the rule has taken longer than expected. The rule won’t be released until after the Labor Day holiday in the U.S., according to the person, who spoke on the condition of anonymity to discuss internal deliberations. Read more here.
U.S. Senators Call for Investigation of Ford Transmission Decisions
Two U.S. senators have called for an immediate federal investigation of Ford Motor Co.'s decision to knowingly launch and continue for years to sell Fiesta and Focus vehicles with defective transmissions despite thousands of complaints and a deluge of repairs, reports USA Today. Separately, the chairman of the U.S. House committee with oversight of the agency charged with traffic safety said he was troubled by the National Highway Traffic Administration's "wait-and-see approach towards an avalanche of consumer complaints" and must hold Ford accountable. Their comments follow the Detroit Free Press Out of Gear investigation released July 11 based on internal company documents and emails showing that Ford put the cars on sale in 2010-11 despite knowing they were prone to randomly slipping into neutral and starting unevenly. That means the cars, equipped with a dual-clutch transmission that Ford called the DPS6, can lose acceleration at times, including on freeways, and have unexpectedly bolted forward. Both, according to consumer complaints, have caused accidents and injuries. Read more here.
Subaru Hikes Prices on Retooled 2020 Outback, Legacy
Subaru of America is hiking the starting prices of the redesigned 2020 Outback crossover and Legacy sedan, the latest models to join the automaker's global platform, reports Automotive News. The Outback midsize crossover will start at $27,655 while the Legacy will start at $23,645. Both prices include shipping. Those starting prices reflect an increase of $335 for the Outback and $215 for the Legacy. U.S. sales of the Outback, the top-selling midsize crossover, increased 3 percent to 93,711 in the first half. Legacy deliveries dropped 19 percent to 17,426 as midsize sedan demand continues to slump across the industry. Subaru's EyeSight safety system remains standard equipment on both nameplates for the 2020 model year. With the exception of the base trim in either model, all Outbacks and Legacys come with an 11.6-inch touch-screen infotainment system. Read more here.
GM CEO to United Auto Workers: 'Our Collective Future is at Stake'
According to CNBC, General Motors CEO and Chairman Mary Barra on Tuesday pleaded for United Auto Workers union leaders to assist, not hinder, the company’s ongoing restructuring efforts to better position GM for the future. Barra, speaking during a ceremony to officially begin negotiations with the union, said the company and union need to be “agile, decisive and disciplined” together more than ever amid a “rapidly” changing auto industry. “Today, we are at a turning point when it comes to the transformation of the industry and this company,” she said during the event inside GM’s global headquarters in Detroit. “Our collective future is at stake. We cannot move forward without one another.” Read more here.
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