Merkley Agrees NAFTA Needs Renegotiated, But Wary Of Trump Administration
America’s Nafta partners welcomed the strategy of modernizing rather than scrapping the trade pact.
“There will be no change in NAFTA, and there will be no stemming the loss of the U.S.jobs, unless this issue is of labor costs is fully addressed”, he added.
Perdue said while NAFTA had been “largely beneficial for American agriculture, any trade deal can always be improved”.
U.S. Sen. Debbie Stabenow, D-Lansing, said a modernization of NAFTA is long overdue.
A quick turnaround on Nafta would be a much-needed win for the embattled president, who learned this week that former Federal Bureau of Investigation director Robert Mueller will investigate Russia’s role in the 2016 election and possible links to the Trump campaign. According to the website Investopedia, “While thousands of USA auto workers undoubtedly lost their jobs as a result of NAFTA, they might have fared worse without it”. His repeated complaints that bad trade deals destroy American jobs gained him support among working class voters, who helped lift him to the White House.
Pacheco is executive director of the worldwide business accelerator – a trade counseling company in the region.
“We should build on what has worked in NAFTA but change and improve what has not”, Lighthizer said. “We believe the framework of a trilateral agreement is the most suitable and the most convenient for the peoples of Mexico, Canada and the United States”. He promised a very aggressive negotiating schedule to conclude the talks as quickly as possible.
Mexican foreign minister Luis Videgaray, speaking at a news conference with secretary of state Rex Tillerson in Washington, said the trade pact needed to be updated after almost 25 years.
A Canadian source close to the lumber negotiations said it was unlikely an agreement could be reached by mid-August, however.
“The agreement is trilateral and should continue to be a trilateral platform. Why? It is in America’s national interest to modernise the agreement”.
Trump’s plan raises further questions regarding IP protection in Canada and Mexico for USA owners, said one reader. American suppliers would have a much harder time getting contracts with Mexico and Canada.
The United States officially indicated its intention to renegotiate the trade deal on Wednesday, marking the start of a 90-day consultation window before formal talks get underway.
Lighthizer’s letter is less detailed than a draft sent to lawmakers in March, which listed as objectives tax equality and the ability to re-impose tariffs if Mexican and Canadian imports pose a serious injury threat to USA industry.
“If the Trump administration is honest, I am more than ready to roll up my sleeves and work with them, to forge a deal that boosts American jobs”. “Nine million American jobs depend on trade and investment with Canada”.
The highly integrated nature of the North American supply chain presents a major obstacle to unwinding the agreement. “So far, this administration’s trade policy has been characterized by a lot of talk and no action”, he said in a statement. The dairy groups have also continued to call for improving market access to Canada and tackling that country’s expanding list of protectionist policies and other barriers to US dairy exports.