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Jtekt delays Mexico auto parts expansion plan pending NAFTA

Auto News - Published on Thu, 12 Jul 2018

Image Source: ET
Reuters reported that Japanese auto components supplier Jtekt Corp said that it was holding off on expanding production in Mexico, awaiting the outcome of talks over the North American Free Trade Agreement, known as NAFTA. Japan's auto industry has been plagued by uncertainty since U.S. President Mr Donald Trump last year launched a renegotiation of NAFTA, seeking to repatriate manufacturing jobs to the United States. Automobiles and auto parts are key export products for the country.

Mr Tetsuo Agata, Jtekt President said prospective automaker clients were waiting for the outcome of the talks before making new decisions on their Mexico operations. "They are watching the NAFTA situation carefully. So we also have to hold off on new production plans," he told reporters at its Nagoya headquarters.

Jtekt is a Toyota Motor Corp group supplier that manufactures vehicle steering systems for the automaker and other customers. It operates a plant in San Luis Potosi state in Mexico.

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Posted By : Nanda Koijam on Thu, 12 Jul 2018
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