Ford Says it Is 'Very Encouraged' by New Trade Pact

Ford Motor Co said Monday it is "very encouraged" by an announcement of a revised free trade deal reached late Sunday between the United States, Canada and Mexico -- an agreement likely to remove significant uncertainty from automakers who feared a collapse of trading rules.

"We stand ready to be a collaborative partner to ensure this agreement is ratified in all three markets because it will support an integrated, globally competitive automotive business in North America," said Joe Hinrichs, executive vice president and president of Ford's global operations. "The benefits of scale and global reach will help to drive volume and support manufacturing jobs." (Reporting by David Shepardson Editing by Chizu Nomiyama)