Ways a New NAFTA Could Change Everything for Your Business

Media playback is unsupported on your device                  Media caption Why are Trump and Trudeau fighting over trees

Media playback is unsupported on your device Media caption Why are Trump and Trudeau fighting over trees

A day after Mexico, the United States and Canada met to begin renegotiating the North American Free Trade Agreement (NAFTA), Mexican farmers took to the streets to protest their government's attempts to save the trade deal. President Trump even recruited the same corporate trade advisers who developed the failed provisions of the TPP to consult on NAFTA.

The talks aim to modernize the 23-year-old pact that established a tri-lateral trade bloc between Canada, Mexico and the USA, eliminating many import and export tariffs.

On the first of five days of talks, U.S. Trade Rep. Robert Lighthizer said Wednesday that Trump "is not interested in a mere tweaking of a few provisions and an updating of a few chapters".

The United States drew a hard line for renegotiating the North American Free Trade Agreement on Wednesday, demanding major concessions aimed at slashing trade deficits with Mexico and Canada and boosting US content for autos.

Trump famously denounced NAFTA as "the worst trade deal maybe ever signed anywhere", and threatened to pull out of the agreement he said has destroyed U.S. jobs. The Administration should also work to secure the acceptance of USA automotive safety standards throughout North America to lock in rules that will promote exports of American-made autos to other markets.

Freeland said Canada's objective in the NAFTA talks is "to protect NAFTA's record as an engine of job creation and economic growth", although she said the country hoped to take advantage of the re-opening of talks about the agreement to "cut red tape for businesses and harmonize regulations" in a bid to modernize NAFTA to bring it up to date.

They want NAFTA's investor incentives that drive outsourcing removed, enforceable labor and environmental standards and tighter rules of origin added.

"If we get this right, the working people of all three countries will benefit", she said.

"Since its enforcement, NAFTA has been more than a trade agreement. -Canada Free Trade Agreement", he says.

Major agricultural federations are urging NAFTA's negotiators to skip the continent's farms and ranches if they're looking for sectors in need of a makeover.

He said the renegotiated NAFTA must embrace innovation, not stifle it, and lead to a constructive deal that must be a win-win-win for all three parties. "We can not ignore the huge trade deficits, the lost manufacturing jobs, the businesses that have closed or moved because of incentives - intended or not - in the current agreement", he said. In 2016, the two countries alone purchased one-fifth of all manufactured goods made in the United States.

Mexico has said its NAFTA goals are free access for goods and services, greater labor market integration and a strengthening of energy security. NAFTA has been a powerful tool to strengthen our industry and help manufacturers in the United States almost double our production.

"I think we could all identify areas where we could create friction", Bonnett said when asked about the system that maintains import limits and price controls on dairy and poultry products.

Notícias recomendadas

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.