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vegassports-odds.com September 21, 2017


Trump administration confirms renegotiation of NAFTA

20 May 2017, 09:44 | Taylor George

U.S. President Donald Trump's threats to renegotiate the North American Free Trade Agreement are coming to fruition.

In a letter sent Thursday to congressional leaders, U.S. Trade Representative Robert Lighthizer said the administration plans 90 days of consultations with lawmakers over how to rewrite the agreement followed by negotiations with Canada and Mexico that could begin after August 16.

"The United States seeks to support higher-paying jobs in the United States and to grow the U.S. economy by improving USA opportunities under NAFTA", he said.

The letter claimed NAFTA has led to tremendous growth in USA trade with Mexico and Canada, integrated cross-border supply chains that benefit United States employers, and more than tripled U.S. exports of goods and services.

However, Democratic leader Nancy Pelosi said the vague NAFTA letter is a stark contrast with the aggressive promises Trump made during his presidential campaign.

NAFTA opened the doors for a flood of subsidized agricultural products and large-scale consolidation, eviscerating small farmers on both sides of the U.S. -Mexico border.

The National Pork Producers Council is urging the president to make sure that tariffs remain at zero for pork traded throughout North America.

"For all his rhetoric, President Trump looks to be sorely disappointing American workers on trade", she said.

Canada's Foreign Affairs Minister has reiterated the Government's commitment to NAFTA following the US Administration's launch of consultations on its renegotiation.

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Some politicians and "experts" still don't understand - or don't want to understand - that a great deal of popular discontent in the United States, Mexico, and Canada alike is rooted in undemocratic policies that have produced inequality, unemployment, migration, food dependency, and pollution. "For example, digital trade was in its infancy when Nafta was enacted".

In February, the Congressional Research Service released a report on NAFTA, which found the trade agreement "did not cause the huge job losses feared by the critics or the large economic gains predicted by supporters".

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.

In the letter Lighthizer points out that NAFTA was negotiated 25 years ago and many of its provisions don't "reflect modern standards".

Trump's decision to start the 90-day period comes a few weeks after he threatened to pull out of NAFTA.

It's why we recently announced the creation of an undersecretary for trade at USDA, because as world markets expand, we will be an unapologetic advocate for American agriculture.

"Let me be clear: NAFTA is vital to the prosperity of the USA textile industry, and NCTO steadfastly supports continuing the agreement".

Meanwhile, the letter he sent to lawmakers to kickstart consultations omitted numerous thorny points cited in an earlier draft, such as leveling the playing field on tax treatment and bulking up "Buy America" procurement provisions-goals that might meet stiff resistance from Canada and Mexico.



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