OTTAWA – Efforts are escalating to reduce regulatory trade barriers between the 13 provinces and territories of Canada that can restrict sales of automobiles, especially trucks, while hindering the growth of auto-sector companies wanting to expand across the country.
Provincial and territorial premiers (heads of government) in July were debating their response to a Canada Free Trade Agreement (CFTA) struck between the federal government and the governments of Ontario, Quebec, Nova Scotia, New Brunswick, Manitoba, British Columbia, Prince Edward Island, Saskatchewan, Alberta, Newfoundland & Labrador, the Northwest Territories, Yukon and Nunavut.
Read the source article at WardsAuto
TRAVERSE CITY, Michigan — As Magna International prepares its business for tomorrow, it’s been forced to reckon with challenges that threaten the bottom line today. This year, it scrambled to move wire harness production from China to Thailand after the Trump administration slapped 25 percent tariffs on Chinese goods. And company officials say they have been forced to consider moving production of other components.
Read the source article at Automotive News Europe
WASHINGTON (Reuters) – U.S. Vice President Mike Pence on Tuesday said that a new U.S.-Mexico-Canada trade deal needs to be approved without delay, but Democrats and organized labor said certain provisions must first be improved. Pence told reporters he was hopeful that the U.S. House of Representatives, which is controlled by Democrats, would pass the agreement this fall. “The clock is ticking,” Pence said.
Read the source article at reuters.com
It’s already been an eventful year for the automotive industry. Let’s review some of the biggest trends and headlines we’ve seen so far and consider what the future might hold.
Shake-Ups and Industry Disruptors
We can’t discuss the industry in 2019 without mentioning tariffs, so let’s start there.
The U.S. and China have made a lot of noise by threatening to impose new or raise existing tariffs on automobiles. The potential of higher costs is affecting factories worldwide, and the situation is made more complex by the fact that many auto makers have plants in countries other than their home base (for example, GM builds cars in China; BMW in the U.S.; VW in Mexico).
Read the source article at WardsAuto
In 2018, the German plastics and rubber machinery manufacturers generated a turnover plus of 2% again compared to the previous-year period. “The growth rate of 3% originally predicted for 2018 could not be reached. Nevertheless, we are pleased about the positive all-year results as in particular towards the end of the year, deterioration of the market became already apparent”, explains Ulrich Reifenhäuser, Chairman of VDMA Plastics and Rubber Machinery.
Read the source article at macplas.it
Rubber being harvested at a farm in Ratanakkiri. KT/ Chor Sokunthea The price of rubber has fallen markedly in recent months due to a slowdown in demand in international markets, particularly China. The commodity currently fetches $1,300 per tonne in the local market, a drop of more than $100 compared to last year, according to […]
Read the source article at Global Rubber Markets News
Vipal Rubber has celebrated the achievements and growth of one of its Monterrey network members in Mexico, Llanco. Recently the retreader opened its second unit in the country, in Nuevo Laredo, in the state of Tamaulipas.
The plant began operations in early May, with a production capacity of up to 2,200 retreads per month. With the new factory’s opening, the retreader expects an approximate growth of 50% in the first year and 100% in the second year.
Read the source article at Tire Technology International
“Kenda has many tire manufacturing facilities in Asia, we can offer productions from different factories to cover demands from customers in a different part of the world,” Chairman Jimmy Yang said.
Read the source article at Rubber and Plastics News