Afternoon Coffee: Canada Rushes to Rejoin NAFTA Talks, Workers Stage Mass Walkout at Hyundai Heavy Industries

With Mexico and the U.S. now aligned on key issues related to automotive content, Canadian Foreign Minister Chrystia Freeland is cutting short a trip to Europe to join NAFTA talks Tuesday in Washington, Bloomberg reports. President Trump has implied he may want to move forward only with Mexico and instead set up a separate bilateral deal with Canada later, but whether he has the authority to do so is still up for debate.

Hyundai Walkout 

A large-scale walkout at Hyundai Heavy Industries is disrupting production at the world’s largest shipbuilder, ShippingWatch reports. In response to broad layoffs in the company’s offshore unit, 12,000 employees have now walked out in protest.

FoxConn Factory  

Wisconsin has pitched the forthcoming Foxconn Technology U.S. manufacturing campus as a boon to the state’s economy, creating 13,000 jobs and bringing $10 billion in investment. But the builder of iPhone and other screens has been tight-lipped about the kind of facilities it wants to build, even implying it may develop a plant different from the one described in state and local contracts, according to the Milwaukee Journal-Sentinel. 

Mexico Imports 

And finally, a trade update: Imports to Mexico surged in July, doubling the country’s trade deficit, The Wall Street Journal reports. Large increases in purchases of petroleum and products from abroad widened the deficit to $2.89 billion last month.

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First Voice

  1. Mark:

    Wow! Having 12,000 employees in a walkout that’s crazy.

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