Reducing deficits and recovering jobs, US goals in NAFTABy Jesús Sierra
The Trump government wants greater benefits in renegotiating the treaty, with respect to Mexico and Canada.
Just a month away from starting the renegotiation of the Free Trade Agreement, US President Donald Trump sets his priorities: reducing the trade deficit and recovering manufacturing jobs. "No longer are we going to allow other countries to break the rules, steal our jobs, and drain our wealth," trumped Trump.
Meanwhile, United States Trade Representative Robert Lighthizer distributed an 18-page document to members of Congress detailing the goals of the NAFTA renegotiation.
The document states that Mexico has a deficit close to 64 billion dollars and a surplus of 1.3 billion dollars when the trade agreement came into force. The intention of the United States is to equilibrate this balance of trade and at the same time improve the access of its products to the Canadian and Mexican markets.
Other objectives identified by the document are the elimination of subsidies and practices that distort the market, reinforce the obligations of partners in labor and environmental issues, and include in the treaty a section on new forms of digital business.
The brief provided by Lighthizer raises the possibility of eliminating the mechanism of dispute resolution in case of unfair competition and the creation of a tool to avoid the manipulation of foreign exchange. The list will be debated during this month prior to negotiation and may be amended by US lawmakers.
- Spain and Mexico’s Trade Relations Curdle over Manchego Dispute
- Cape Town Water crisis: 'Day Zero' Draws Near
- MORGAN STANLEY: Here are the 6 internet stocks to bet on in 2018
- Ford announces $11B investment, 40 electrified vehicles by 2022 at Detroit Motor Show
- Automobile Revenues will fall 40% due to Electric and Autonomous Vehicles
- Mexico debuts its best startups for 2018 at CES
- Inside the Secret Society Running the World of Cryptocurrency
- Opinion: Who Will Profit Off the Next Crash?
- This is how Jeff Bezos will support the 'dreamers'
- Oil Reaches $70 a Barrel for First Time in Three Years
- Peso predicted to make comeback in 2018: Bloomberg
- Chihuahua´s governor denounces Government reprisals for PRI corruption investigation