Trump administration launches NAFTA renegotiations to 'modernize' trade deal by year's end

Perdue Weigh in on NAFTA RenegotiationsUSAgNet - 05/19/2017The U.S. dairy industry commended Robert Lighthizer, the newly confirmed U.S. Trade Representative, for taking swift action under the Bipartisan Congressional Trade Priorities and Accountability Act (TPA) to begin the process for modernizing the North American Free Trade Agreement (NAFTA). On Thursday his administration served official notice that he is serious, notifying Congress that it intends to start negotiations with Canada and Mexico in 90 days.

US President Donald Trump's administration has launched the countdown for renegotiating the North American Free Trade Agreement (NAFTA) with Canada and Mexico.

Noting that the NAFTA was negotiated 25 years ago, Lighthizer said many chapters of the trilateral agreement are "outdated" and do not reflect modern standards. U.S. President Donald Trump has vowed to redo the No.

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"We estimate, for example, that the direct annual economic impact of cross-border commerce in all of its forms on just Clinton County is close to $2 billion, with 15 percent of the regional workforce employed by a Canadian or border-related employer on this side of the border", he said.

"We should build on what has worked in NAFTA but change and improve what has not", he said.

Douglas said it is also important, and in line with indications from the president, that the NAFTA negotiations differentiate between Canada and Mexico in appropriate ways.

The Congressional Research Service has concluded that the impact of NAFTA on the US economy "has been relatively small".

"Trump can not not renegotiate Nafta in a way that's positive for US manufacturing", Dimicco said.

But many Democrats say they will try to hold the administration to its promises on labor and environmental standards, a ban on currency manipulation and novel rules to bring back manufacturing jobs.

In 1993, the year before NAFTA took effect, the United States had sold Mexico $41.6 billion in goods and bought $39.9 billion for a trade surplus of $1.7 billion.

Lighthizer said that his office "will now continue consultations with Congress and American stakeholders to create an agreement that advances the interests of America's workers, farmers, ranchers, and businesses".

Foreign Affairs Minister Chrystia Freeland welcomed what was a widely anticipated development, promising to consult with Canadians on the best way forward.

"Today President Trump fulfilled one of his key promises to the American people", Lighthizer said Thursday, according to the paper. "This is our position", he said, arguing that continent-wide supply chains should make North America the most competitive region in the world.

"For far too long, our nation has stuck to a free trade agenda that has led to a massive $500 billion annual trade deficit, lost jobs, and lowered wages in rural communities across the US", said Roger Johnson, NFU president.

Trump's main argument against NAFTA and other pacts was that they exposed American workers to unequal competition with low-wage workers in countries like Mexico and China.

Vanessa Coleman