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The Nikkei View

New North American trade pact puts toll on Asian companies

Exporters seen passing cost to American consumers

This month, the United States-Mexico-Canada Agreement, the successor to the North American Free Trade Agreement, took effect. We feel that this trade pact is highly problematic.

The new deal raises the threshold for eliminating automobile tariffs and aims to increase procurement of U.S.-made parts. It also includes a quantitative restriction on auto exports to the U.S. as well as a provision that blocks currency devaluation by trading partners.

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