You Auto Know Week in Review: November 3, 2017

The highly anticipated Republican tax bill, the Tax Cuts and Jobs Act, was released yesterday and a mad sprint now begins to achieve the ambitious goal of passing it before the Thanksgiving holiday. Some of the major highlights of the $1.51 trillion package include the simplification and streamlining of individual tax brackets and increasing the standard deduction, cutting the corporate tax rate from 35% to 20%, and new limits or caps on some popular deductions, including the state and local tax deduction and the mortgage interest deduction.

You Auto Know Week in Review: October 27, 2017

Earlier this week, AIADA and other auto associations, manufacturers, and suppliers, announced the creation of Driving American Jobs, a broad coalition of the U.S. auto industry concerned with proposed changes to NAFTA. In addition to AIADA, the coalition is comprised of the Alliance of Automobile Manufacturers, the American Automotive Policy Council, the Global Automakers, the Motor Equipment Manufacturers Association, and ALL their members. The goal of the effort is to educate policymakers and the public about the benefits of NAFTA to the U.S. auto industry, particularly as concern heightens over the direction and tenor of the NAFTA negotiations. The next round of NAFTA talks are set to begin on November 17.

You Auto Know Week in Review: October 20, 2017

Following the conclusion of the fourth round of NAFTA talks earlier this week, in which several controversial U.S. proposals were not received well by either NAFTA partner, the fifth round was postponed from the end of October until November 17. According to reports, there are several contentious issues on the table, including auto rules of origin, which the Trump Administration wants to see increase from the current 62.5% regional content requirement to 85%, with 50% of that now U.S. content.

You Auto Know Week in Review: October 13, 2017

As the fourth round of the NAFTA renegotiations began this week just outside of Washington, D.C., U.S. business groups began to sound the alarm with Congress about concerns surrounding the NAFTA talks, including proposed “non-starters,” and urging Congress to weigh in with the Administration.

You Auto Know Week in Review: October 6, 2017

The fourth round of the NAFTA renegotiations are slated to begin next week and negotiators are signaling they will begin tackling stickier issues. Earlier this week, news leaked that the U.S. would demand 50 percent U.S. content in NAFTA auto rules of origin, also increasing the NAFTA regional value content requirement from 62.5 percent to 85 percent. The entire auto industry, both domestic and international brands, as well as parts suppliers, is united in opposing changes to the rules of origin. Representatives from the industry were present at each negotiating round to make the case against a U.S. domestic content requirement, and also stressed that NAFTA’s regional value content requirement -- 62.5 percent -- is already the highest in any U.S. free trade agreement.