Ford CEO on CUSMA trade deal stakes: ‘This has to work’

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Photo by Bill Pugliano/Getty ImagesThe leader of Ford Motor Co. said he hopes U.S. President Donald Trump’s trade negotiators reach bilateral agreements with Canada and Mexico “as soon as possible” before tackling a broader update of North America’s free-trade pact that’s critical to the auto industry.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountJim Farley, Ford’s chief executive, told reporters in Detroit that it’s a “50-50 chance” that the three countries agree on an update of the continent’s trade agreement known as CUSMA. Trump’s tariffs imposed last year on imported automobiles cast aside the largely duty-free status of North American auto trade afforded by that pact, adding billions in additional costs for carmakers in the region.This advertisement has not loaded yet, but your article continues below.“The bilateral agreements for Mexico and Canada are really important, because they’ll serve as the foundation for whatever happens in the (CUSMA),” Farley said on the sidelines of an event focused on filling skilled trades jobs the automaker hosted Wednesday.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“This has to work. We have to find a solution for this, and I’m very optimistic that everyone knows how important this is,” he said.Trump declined to automatically renew CUSMA in July, casting the agreement’s future into doubt and threatening the cross-border supply chains relied upon by auto manufacturing. Talks between the countries have since focused on bilateral deals that are expected to hinge on concessions from Canada and Mexico in exchange for tariff relief, including from Trump’s duties targeting automobiles and metals.Talks between the U.S. and Canada abruptly collapsed in August, escalating the countries’ trade war with Trump hitting Canada with 50 per cent levies on billions of dollars in goods.Mexico’s government is increasingly confident about a possible trade deal with the U.S. that includes reduced tariffs on key exports including autos, Bloomberg reported earlier Wednesday, citing multiple Mexican officials familiar with the situation.“We’re really hopeful that they find a deal with Mexico and Canada as soon as possible,” Farley said. “That will be a great bridge to (CUSMA).”With assistance from Josh WingroveThis advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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