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Japan auto lobby says hopes NAFTA will keep current framework

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Japan auto lobby says hopes NAFTA will keep current framework
FILE PHOTO: Toyota Motor Corp President Akio Toyoda attends "The Connected Day" event to launch the new Corolla and new Crown models in Tokyo, Japan, June 26, 2018. REUTERS/Kim Kyung-Hoon   -   Copyright  KIM KYUNG-HOON(Reuters)
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TOKYO (Reuters) – Japan’s automakers association said on Thursday it hoped that the North American Free Trade Agreement would maintain its current framework as the United States, Canada and Mexico update the trade pact amid growing trade tensions between the United States and its trading partners.

“Japanese automakers’ businesses in North America are based on the NAFTA framework, and that framework is based on a three-party agreement,” said Akio Toyoda, chairman of the Japan Automobile Manufacturers Association (JAMA) who is also president of Toyota Motor Corp <7203.T>.

“We hope that framework continues this way, and that it remains well-balanced.”

In a statement, JAMA also said it was concerned about the impact of higher U.S. tariffs on auto imports, which Washington has threatened.

(Reporting by Naomi Tajitsu; Editing by Muralikumar Anantharaman)

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