Honda Motors is waiting for Donald Trump to drop the NAFTA

Honda Motors is waiting for Donald Trump to drop the NAFTA

By: James Ansher | Where To Trade | On:Monday, 21 November, 2016
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Honda Motor announced that it will stick with its plans of North American Production and will wait for Donald Trump to drop the NAFTA (North American Free Trade Agreement) as he takes his office.

 Takahiro Hachigo declared on Monday that  "We can't suddenly make production changes and that is a problem not just for us but for all automakers in the U.S." , adding that "It is still unclear what Trump's policies will be. "

By following the NAFTA plan, tariffs on cars built in Mexico will be significantly larger. Honda and other car makers are building cars in Mexico and sell in the United States of America.

Honda only has two auto plants in Mexico, and together built almost 260,000 cars and 100.000 motorbikes per year. Mexico, China and other countries are places where many auto makers invested, which only makes NAFTA a bad decision.

Ford Motor announced their investment of small cars in Mexico only in April this year. 

 

James Ansher

James Ansher

When there is a will there is a trade

A successful Forex trader and expert advisor

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