he U.S. and Japan are “really making efforts to strike a deal” as soon as possible in bilateral auto negotiations related to the Trans-Pacific Partnership (TPP), Japanese TPP Ambassador Takeo Mori said Sept. 5.
In remarks to reporters following three days of negotiations with acting Deputy U.S. Trade Representative Wendy Cutler in Washington, Mori said that the talks are at the “endgame” stage, but he declined to estimate when they would be concluded.
General Motors Co.’s Spring Hill complex is on a path that may lead to a doubled workforce and become a vision of GM’s manufacturing future.
The town and its namesake auto plant, 35 miles south of Nashville, were home to Saturn manufacturing for more than a decade before GM stopped assembly operations for nearly three years following its bankruptcy. It became a metaphor for GM’s overreach, its fall and now its resurgence.
Today, Ford Motor Company announced the hiring of 300 new employees and a $129 million investment in Louisville Assembly Plant to support production of the all-new 2015 Lincoln MKC.
Production of Lincoln’s newest vehicle began in May. MKC is the second of four all-new Lincoln vehicles being introduced by 2016, and will go on sale in China, along with the MKZ sedan, when the Lincoln brand debuts there later this year.
Leaders from three manufacturing groups held a news conference, calling on Congress, the White House and trade negotiators to get tough on countries engaged in currency manipulation.
China is their primary target, having tied the value of its dollar to the U.S. dollar instead of allowing it to be determined in foreign exchange markets.
They said U.S. manufacturing may be on a post-recession rebound, but it's being undermined by China's, Vietnam's and a handful of other countries' practice of currency manipulation.
Currency manipulation has a huge impact on manufacturers, says Bill Adler, president of Stripmatic Products Inc. in Cuyahoga Heights. Indeed, the past chairman of the Precision Metalforming Association thinks it's the biggest hurdle U.S. companies face when it comes to competing globally.
“We see and feel the direct impact of lost jobs, lost revenues because of unfair currency manipulation,” Adler said.
The American Iron and Steel Institute (AISI) and allied manufacturing groups today reiterated their call for strong and enforceable currency manipulation disciplines in all future trade agreements, including the Trans-Pacific Partnership (TPP).
American businesses could be hiring more workers today if we ended unfair trade practices used by some of our trading partners. No matter how competitive companies are in Ohio, they struggle to keep up with foreign competitors that are given an unearned advantage because of currency manipulation.