Renegotiating NAFTA will take more than one year

By Elliot Bullman

Renegotiation will take time until internal treaty analysis has been done.

US Commerce Secretary Wilbur Ross estimated that renegotiation by the North American Free Trade Agreement (NAFTA) will not begin until late 2017. In an interview with Bloomberg, the official said that his country is barely in the beginnings of an internal process to evaluate the process.

Portada año renegocial tlc

Ross explained that in order to initiate renegotiation, they must first consult with the Trade Promotion Authority, which is a legislative process that should define the objectives of the US negotiations and describes in detail the supervision of the process to be carried out.

The speed of the process is one of the priorities of the Americans, "uncertainty is the curse of any business, but, frankly, it is also a great curse for the government ... so we will try to solve this as fast as we can" Ross said.

pexels photo 197195.jpeg

Ross estimated that it will not be until "before the latter part of the year when the actual negotiations begin.

Some experts point out the problems presented by the statements of the Secretary of Commerce. University of San Diego researcher David Shirk said that the Trump administration does not know what it is looking for; "If I were an entrepreneur I would be worried that they still do not know where to begin to renegotiate, they have no idea and they're basically making things up as they go along."

belgium antwerp shipping container 163726.jpeg

RELATED NEWS

  • The final curtain call for the Ringling Bros. circusThe final curtain call for the Ringling Bros. circus
  • MD Elektronik Mexicana, a company with German capital, arrives in LeónMD Elektronik Mexicana, a company with German capital, arrives in León
  • Mexico’s Grupo Lala is lead bidder for Danone’s Stonyfield FarmMexico’s Grupo Lala is lead bidder for Danone’s Stonyfield Farm
  • IMF ratifies flexible credit line for $86 billion for MexicoIMF ratifies flexible credit line for $86 billion for Mexico
  • Nissan breaks sales record in MexicoNissan breaks sales record in Mexico
  • British Petroleum expects to grow its investment in Mexico´s energy sectorBritish Petroleum expects to grow its investment in Mexico´s energy sector
  • Shell and Exxonmobil to open gas stations this year in MexicoShell and Exxonmobil to open gas stations this year in Mexico
  • 29 countries to support China on the Silk Road29 countries to support China on the Silk Road
  • NissanNissan's 'Godzilla' arrives in Mexico
  • Hybrids are hot in MexicoHybrids are hot in Mexico
  • General Electric backs NAFTA and voices support for MexicoGeneral Electric backs NAFTA and voices support for Mexico
  • MexicoMexico's Secretary of Foreign Affairs keen to start NAFTA talks in U.S.
WATCH LIVE TV



Most Read Articles
Most Watched Videos
  • Generations Riviera Maya
  • Mayair