Mexico Stocks Rise On US Nafta Objectives: North America First!

Unifor calls for overhaul of NAFTA

Before signing a proclamation making this Made in America Week, President Donald Trump promised on Monday he would take more legal and regulatory steps to protect American manufacturers, lashing out against trade deals and trade practices he said have hurt US companies.

Now, he wants to revive parts of the 12-nation trade deal-which he called "a potential disaster" last year-and put them into a renegotiated North American Free Trade Agreement (Nafta).

The Mexican government said in a statement that the administration's NAFTA objectives will give greater clarity to the negotiations.

Though the document highlights some positive attributes of the 23-year-old agreement, it also points to ways in which the White House feels NAFTA has been a detriment.

That includes Prime Minister Justin Trudeau's speech last week to a meeting of governors, where he reminded Americans there are 9 million USA workers whose jobs depend directly on trade with Canada, which is the top export market for two-thirds of all states. Shortly before the release of the document, President Donald Trump lashed out against trade deals and unfair trade practices, saying he would take more legal and regulatory steps during the next six months to protect American manufacturers.

When a US industry believes that a Canadian or Mexican competitor is gaming the rules of trade by receiving unfair subsidies or selling its products in other countries at ultra-low prices, it can appeal to a USA global trade court to put extra taxes, called anti-dumping or countervailing duties, on those products. "There's nothing in there where you could say, this is how we get rid of the trade deficit". It's especially wrong-headed to blame NAFTA for the persistent bilateral deficit since Mexico is one of the most open markets in the world for USA exports. Both Mexico and Canada have agreed.

While U.S. law required the administration to disclose its negotiation objectives, there is no similar requirement in Canada and no desire to reveal what changes the Trudeau government might be willing to accept. Officials are adamant that they won't conduct negotiations in public.

Читайте также: US Lawmakers set to question Trump campaign chairman

In a statement on his website, Democratic Congressman Tim Ryan of OH said the president is "not qualified" to broker a deal that would help American workers.

There is a trillion dollars of trilateral trade between the US, Canada and Mexico. For example, when NAFTA was negotiated biotech crops were just starting to come to market.

As well, they're asking that Canada's chief NAFTA negotiator, Steve Verheul, be present. At times Trump had threatened to cancel NAFTA altogether, prompting a similarly heated response from Mexico.

Overall, the American Apparel & Footwear Association is pleased with the direction set forth in the blueprint. Effective dispute settlement helps to stop trade disagreements from escalating.

The Retail Industry Leaders Association released its own statement in support for an update that would boost both importers and exports and help make the USA more competitive in the global market.

Chrystia Freeland, Canada's minister of foreign affairs, said, "NAFTA supports millions of middle class jobs" across North America and Canada welcomes the opportunity to add "progressive, free and fair approaches" to the pact.

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