USTR Moves Forward with NAFTA Renegotiation

USTR Moves Forward with NAFTA Renegotiation

On Thursday, US Trade Representative Robert Lighthizer sent a letter to lawmakers, giving Congress a 90-day consultation period before renegotiations are initiated on the North American Free Trade Agreement (NAFTA). Negotiations with Canada and Mexico will begin no earlier than August 16, 2017. 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.

"Sectors such as manufacturing, particularly with regard to Mexico, have fallen behind, he said". This move is being made in efforts to support higher-paying jobs in the USA, grow the company, and update the Agreement to reflect changes that have occurred since its inception 25 years ago.

Eddy Hayes, chairman of the World Trade Center New Orleans, said NAFTA is 23 years old so it's a good idea to take another look at the agreement.

"We believe today's action signals the beginning of a strong trade agenda for USA exporters".

He also noted that Mexico is one of the countries moving forward on the Trans-Pacific Partnership, created to cut tariffs and boost trade among a dozen countries bordering the Pacific Ocean.

Canada and Mexico both welcomed the American move to launch a Nafta revamp.

The letter from Lighthizer did not mention any specifics, though.

Commerce Secretary Wilbur Ross said Thursday with the NAFTA announcement "we intend to notify not just Congress, but all our trading partners, that free and fair trade is the new standard for USA trade deals".

"Since the signing of NAFTA, we have seen our manufacturing industry decimated, factories shuttered, and countless workers left jobless".

Late in April Trump had considered a full withdrawal from Nafta, but was persuaded by senior officials in his administration to pursue negotiations instead.

The agreement, which has been in place since 1994, lifted numerous tariffs on trade between the U.S., Canada and Mexico.

Asked if the NAFTA talks would seek to resolve trade disputes over imports of Canadian softwood lumber or Mexican sugar, he said he hoped that those issues would be settled before the NAFTA talks begin under separate negotiations being conducted by the U.S. Commerce Department.

The U.S. wants NAFTA to be modernized to "address intellectual property rights, regulatory practices, state-owned enterprises, services, customs procedures, sanitary and phytosanitary measures, labour, environment and small and medium enterprises", he wrote. "One hundred and nineteen days later, he has managed to send Congress a two-page letter that fails to include any real plan to fix a deal that has undermined environmental protections, eliminated jobs, undercut wages, polluted our air and water, and fueled climate change". Lori Wallach, director of Public Citizen's Global Trade Watch, called it "markedly vague". If so, in addition to voting on approval of the agreement, Congress would work with the Administration to shape the implementing legislation. Their demands would lower to 15% from 53% the percentage of Mexican exports to the US that could be refined sugar, said Juan Cortina, president of the Mexican sugar industry chamber.

  • Tendulkar receives blessings from PM Modi for "Sachin"

    In the trailer of the film, the viewers could see fan mobs burning effigies of the players and peltings stones at their houses. The 2000 match-fixing scandal that rocked Indian cricket and shook its foundation is hardly ever been discussed by Tendulkar.

    East residents under watch as severe thunderstorms roll into area

    Rain will settle in, along with a few storms, after around 4PM, then stick around into Sunday night and Monday morning. A stray shower/storm can not be ruled out during the afternoon but the good news is rain unlikely for most.

    Campbell Soup's Profit Drops 4.8%

    Analysts await Campbell Soup Company (NASDAQ:CPB) to report earnings on May, 19 for the fiscal quarter ending April 2017. Company's distance from 20 day simple moving average is -0.72% and distance from 50-Day simple moving average is -0.70%.
  • Cheesy situation: Mom paralyzed after eating gas station nacho cheese

    It is believed that the nacho cheese sauce is the common food eaten among all the victims is where the botulism is coming from. Really? How does that happen? Seattle-based attorney Bruce Clark is working on Kelly's case, according to the Sacramento Bee .

    Cannes Film Festival 2017

    Festival director Thierry Fremaux issued a statement last week saying that only movies opening in French cinemas would make the list.

    One-Third Of Iowa Corn Crop Was Planted In One Week

    This compared to last crop year's record production figure of 15,148 million bushels (174.6 bpa on 86.7 million harvested acres). The three states where none of the crop has emerged yet are Michigan, Minnesota and Wisconsin.
  • Zac Efron & Alexandra Daddario Hang Out Poolside in Miami

    Efron also dished to ET about whether Johnson was a better kisser than his other Baywatch co-star, Alexandra Daddario . She even trips over, or at least does so intentionally, only to fall in the arms of The Rock.

    Senators Urge Turkish President To Hold His Bodyguards Accountable For DC Violence

    Washington voiced concern over the air strikes and said they harmed the coalition's fight against Islamic State. Eleven people, including a U.S. officer were hurt in the brawl.

    Djokovic beats Bautista Agut to reach Italian Open QFs

    Qualifier Daria Gavrilova beat seventh-seeded Svetlana Kuznetsova 2-6, 7-5, 6-4 and Kiki Bertens won 7-6 (3), 6-1 over Russia's Ekaterina Makarova.
  • Indian Doctors Conduct Country's First-Ever Uterus Transplantation

    It took India 11 years to perform the same surgery, which was undertaken at King Edward Memorial Hospital at Mumbai in May 1965. India's first womb transplant has been successfully performed by a team of doctors on Thursday.

    Trump denies telling Comey to back off, bashes former Federal Bureau of Investigation director

    Trump made the decision to fire Comey only after receiving the recommendation from Rosenstein and Attorney General Jeff Sessions. However, Trump told NBC News last week that he would have fired Comey "regardless" of what the Justice Department said.

    3 dead, 19 rescued in collapsed building in Lagos

    The Lagos State Ambulance Service (LASAMBUS) is treating some of the victims, while others have been taken to the hospital. It was learnt that rescue work was call off because there were remote chances that more persons would still be trapped.