By David Olive Business Columnist Sun., May 5, 2019 It appears the Trump administration isn’t all that interested in a deal to replace the North American Free Trade Agreement (NAFTA) after all. Last week, White House acting chief of staff Mick Mulvaney was sanguine about the prospect of Congress rejecting NAFTA’s proposed replacement, the United States-Mexico-Canada Agreement (USMCA). “You could stay status quo,” Mulvaney told a California business conference. “Your real Plan Bs are either NAFTA or withdraw from NAFTA.” It might be that U.S. President Donald Trump has reverted to his years-long preference to simply kill NAFTA without replacing it. Trump won’t budge on the reasonable changes that Congressional Democrats seek to make to the USMCA agreement. He also seems determined to keep in place the steel and aluminum tariffs he applied against Canada and Mexico about a year ago. And that alone pretty much … [Read more...] about Time to say goodbye to NAFTA’s replacement?
2018 tesla model 3
WASHINGTON: U.S. trade officials rejected Tesla Inc's bid for relief from President Donald Trump's 25 percent tariffs on the Chinese-made computer "brain" of its Model 3 electric vehicles, one of more than 1,000 product denials linked to China's industrial development plans.According to documents filed by U.S. Trade Representative's office (USTR) and reviewed by Reuters, Tesla's and other tariff exclusion requests for Chinese-made products from aircraft parts to biotechnology instruments were all denied because they were deemed "strategically important" to the "Made in China 2025" programme.Tesla did not return requests for comment. Tesla has a separate pending tariff exclusion request for duties on the Chinese-made Model 3 Center Screen.The company in a securities filing on Monday said that "our costs for producing our vehicles in the U.S. have also been affected by import duties on certain components sourced from China."The denials illustrate a systematic approach by the Trump … [Read more...] about US rejects Tesla bid for tariff exemption for Model 3 ‘brain’
By Sam Goldfarb WSJ Allison Prang WSJ Fri., May 3, 2019 Tesla Inc. has completed a $2.35 billion stock and bond sale, giving the company a much-needed boost of liquidity as it continues its quest to become the first mass producer of electric cars. Meeting solid demand from investors, Tesla was able to increase the size of its convertible bond offering by $250 million to $1.6 billion. It also raised roughly $750 million from its sale of nearly 3.1 million common shares at $243 a share—around $100 million more than originally anticipated, not including expenses related to the sale. The company could ultimately raise as much as $2.7 billion if underwriters exercise options to purchase additional shares and bonds, the company said in a filing with the Securities and Exchange Commission. Shares of Tesla rose 4.3% on Thursday to $244.10 a share after the company began marketing its stock and bonds, an unusual response as shares in firms raising capital … [Read more...] about Tesla completes $2.35 billion stock and bond sale