Showing posts with label NAFTA. Show all posts
Showing posts with label NAFTA. Show all posts

Tuesday, July 18, 2017

The United States wants to include a chapter on the digital economy in the NAFTA deal

The US government has set out its priorities in the upcoming renegotiation of the North American Free Trade Agreement (NAFTA), the World Agencies have reported. US Trade Representative Robert Lightheiser presented late last night a 18-page report outlining Washington's goals in renegotiating NAFTA with Canada and Mexico. Along with a reduction in the trade deficit, the administration wants to include a chapter on the digital economy in the deal as well as to strengthen labor market and environmental protection obligations.
There are also amendments to the indications of origin on the agenda. It will also seek to remove barriers to US investment and prevent currency manipulation by Canada and Mexico.
In a document sent to Congress, Lightheiser said the administration would seek to eliminate the unfair subsidies and practices that distort the market, Reuters said. "Too many Americans have suffered because of closed factories, outsourced jobs and broken political promises," he said in a statement. The government informed Congress in May of plans to renegotiate NAFTA. According to the procedure, lawmakers can reject a new agreement but not propose amendments. The new objectives in the NAFTA negotiations are a necessary requirement for negotiations to begin in the next 30 days. They are also the first signal of the precise intentions of Donald Trump's administration, which has made great promises of changes in trade. Negotiations with Canada and Mexico are scheduled to begin on August 16, the DPA said. The president pledged to rebuild American jobs in the industry and raise wages through new trade agreements. NAFTA supporters, however, note that the deal allows companies to offer lower prices for a wide range of automotive products to vacuum cleaners, helping many US consumers. The head of state says he is just looking for fair conditions for US companies and workers, but would also accept "if the conditions are a little to our advantage," AP reminds. In 2016, the US had a trade deficit of nearly 8 billion with Canada and a 63 billion deficit in trade in goods and services with Mexico. Trade between NAFTA parties is estimated at over 1.2 trillion. Dollar.

Thursday, March 16, 2017

Republicans are increasingly an obstacle to trade policies Trump

They worry that his plans may harm the exports of their states and undermine long-standing alliances US
Republican lawmakers show increasing resistance to plans for a new trade policy President Donald Trump. They worry that his plans may harm the exports of their states and undermine long-standing alliances US, writes Wall Street Journal. This shows that the biggest threat to the commercial intentions of Trump, who focus on new bilateral deals and more hard-line approach against countries that violate trade rules, comes from his party. The opposition Republicans, who control both chambers of Congress will hamper the efforts of the President to review the North American Trade Agreement (NAFTA) and to deal with trade distortions, which accuses China.
Republicans have long supported free trade and who are close to business groups have warned that the imposition of duties could lead to retaliation against US goods. Lawmakers from states where there is developed agriculture, are unhappy that Trump withdraw the country from Trade Partnership (TPP).
"I am more worried about what they can do renegotiating existing agreements than what they are doing bilaterally with countries with which no transactions. We know what we have and not think it's as bad as thought the president," said Republican Senator from Iowa Chuck Grassley.
Trump caused a wave of discontent, threatening to terminate traditional US trade policies and challenging orthodox Republican lawmakers who support free trade. In fact, few members of his party oppose him openly about the issue because they want to work with the president on other priorities. But as the trade policies of Trump on several fronts legislators are beginning to express reservations.
"My concern is that they make it too difficult entry into a trade agreement. When you subtract themselves from the field of multilateral opportunities, our trading partners will look elsewhere for leadership. That leadership can come from countries that do not follow the same norms and values like us, "said Republican Senator from Colorado Cory Gardner. 
Trump recently sent to Congress measures of commercial policy that supports aggressive use of a rarely used law to punish trading partners, and questioned the credibility of the WTO as an arbitrator in international disputes. Republicans responded with a strong statement in support of the organization and the existing American agreements.

Test for support

Trump intention to renegotiate NAFTA will be a test of support in Congress for its policies. US lawmakers watched carefully when Mexican lawmaker introduced a bill beneficial Latin American goods exported to the US grain. The move came as a result of warnings from Trump that NAFTA would be renegotiated and that Mexico will have to pay for the new border wall. "I'm worried because other countries Our answer: You want to build a wall, then you will not take your grain. If we talk about renegotiating NAFTA, we will actually lose in agriculture. So you really have to work very, very carefully" said Republican Senator from Iowa Johnny Ernst. According to Republican Senator Mike Lee of Utah, if Trump fulfill his threats to raise tariffs, "there may be some extreme economic consequences."