08:54:00 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



General Motors Company
Symbol GMM
Shares Issued 1,500,039,985
Close 2017-04-17 U$ 33.71
Market Cap U$ 50,566,347,894
Recent Sedar Documents

Globe says Scotiabank warns about tinkering with NAFTA

2017-04-18 09:03 ET - In the News

See In the News (C-BNS) Bank of Nova Scotia

The Globe and Mail reports in its Tuesday edition that the administration of Donald Trump should have a keen interest in maintaining NAFTA as it is when it comes to the car industry, according to Bank of Nova Scotia. The Globe's Greg Keenan writes that U.S. auto-industry shipments to Mexico have grown since the North American free-trade agreement came into force in 1994 and employment growth in the sector has outpaced job gains in both manufacturing and the U.S. economy as a whole. Scotiabank's data underline the strategy Canadian carmakers and the federal and Ontario governments have adopted in the run-up to negotiations on rewriting the U.S.-Canada-Mexico agreement. The trade deal has effectively become the operating system for the auto industry with vehicles and parts manufactured in all three countries and shipped duty-free between them. "Any new restriction of the free flow of vehicles and parts among the three countries would have a negative impact on economic activity in all three jurisdictions," the bank said in its monthly Global Auto Report. Asia and Europe both have sources of cheap labour, so if Mexico is no longer available as a site for such activity, North America will become uncompetitive.

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