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Trump administration announces plans to renegotiate NAFTA

19 Mai 2017

Trump fired Comey last week, and the president said in a later interview that he was unhappy with the FBI's probe into his campaign's possible links to Russian interference in the 2016 election.

His comments came in a wide-ranging interview with the Economist, which posted an edited transcript online. If the notification is indeed sent to Congress Thursday or Friday, renegotiation could begin by mid-August.

"We look forward to working with the administration to strengthen the agreement in a seamless way and ensure that we retain the current benefits for American workers, farmers and businesses", says Texas Republican Rep. Kevin Brady, chairman of the House Ways and Means Committee.

"With this letter, we intend to notify not just Congress, but all our trading partners, that free and fair trade is the new standard for U.S. trade deals", Ross said. "We have been from day one", Freeland told reporters. Well, the judges are three Canadians and two Americans. Trump slapped a 20% tariff on Canadian lumber in April and Mexican officials have repeatedly warned him not to use tariffs, saying they would hit the USA with tariffs too. "And so it's very, very unfair". But after word of that leaked, both Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto phoned separately, urging they renegotiate instead. This is the first step toward reshaping a trade deal that became law in 1994 and changed the face of trade in North America. Trade negotiations often take years.

"There are many companies that would have liked to fight for expanded trade as opposed to 'do no harm, '" United States Fashion Industry Association President Julia Hughes told Supply Chain Dive. "They've never been able to make it".

He wasn't asked the same question about Canada, but presumably would have given a similar answer. And much of the trade represents oil.

The Congressional Research Service has concluded that the impact of NAFTA on the US economy "has been relatively small". -Canada trade tensions have escalated. A revised Nafta could also bring new business opportunities.

Some, however, said Trump was already failing to meet responsibilities to work in good faith with Congress on changes to the deal. "It just seems like we're on hold until we get people in place".

"Our trade agreements must be judged by whether they create jobs and grow the paychecks of hard-working Americans. Mexico is our nation's third largest trading partner, and trade with Mexico supports five million jobs in this country of which 382,000 are in my home state of Texas".

In the course the of more than twenty years since its signing, NAFTA has negatively impacted some parts of the country but it has also benefited others.

Lighthizer's letter (https://ustr.gov/sites/default/files/files/Press/Releases/NAFTA%20Notifi.) is less detailed than a draft sent to lawmakers in March, which listed as objectives tax equality and the ability to reimpose tariffs if Mexican and Canadian imports pose a serious injury threat to US industry.

The Obama administration attempted to address many of these deficiencies in the 2015 Trans-Pacific Partnership trade deal, which included Canada and Mexico, but Trump pulled out of TPP in one of his first official acts as president.

Trump administration announces plans to renegotiate NAFTA