Trump administration notifies Congress of its intent to renegotiate NAFTA

The U.S. Trade Representative Thursday notified Congress of the administration's intent to renegotiate the North American Free Trade Agreement.

The notification letter U.S. Trade Representative Robert Lighthizer sent to Congress noted that that the U.S. economy and its businesses have changed considerably in the 25 years since NAFTA was negotiated, but the agreement hasn't kept up. Talks with Canada and Mexico can begin after that.

Lighthizer told reporters that NAFTA has been successful for US agriculture, investment services and the energy sector, but not for manufacturing.

WIPR readers were split over whether the renegotiation of NAFTA would be bad for IP owners in the country. She said it hasn't yielded a single year of trade and jobs balance or surplus in a quarter century, and she's eager for it to be renegotiated.

"While every partnership has disagreements to occasionally be resolved, the U.S". "The world has changed".

Though manufacturing has dominated much of the discussion about NAFTA, U.S. agriculture has a huge stake, too. By reworking NAFTA, Louisiana can maintain its competitiveness in North American markets.

US Democratic Senator Charles Schumer said he will be watching the talks to make sure a new trade deal will "prioritize American workers and help to get middle-class incomes and jobs going again".

Ross last week said the White House had not yet decided whether to continue the pact as a three-nation deal, or split it into two separate bilateral agreements, something Canada and Mexico oppose.

Lighthizer says the USTR office will begin working on negotiation intentions immediately. "It is in America's national interest to modernise the agreement".

Just three weeks ago Trump reneged on his vow to completely withdraw from Nafta, which represents a significant amount of USA exports and imports. Campaigning previous year, Trump vowed to renegotiate NAFTA and pull out of it he couldn't get a better deal.

"If that's the starting point, then nothing will come of this that will benefit American workers or American manufacturing", DeFazio said at the press conference.

Economists generally agree that NAFTA has benefited the US economy overall by increasing trade.

Renegotiation of Nafta was a key campaign promise of American president Donald Trump, who frequently said the 23-year-old trade pact was a "disaster" that has drained USA factories and well-paid manufacturing jobs to Mexico. The administration did send a draft to Congress in March "that included what the administration was looking for in almost 20 different areas".

The letter from Lighthizer did not mention any specifics, though. House Democratic leader Nancy Pelosi complained that "the president's vague NAFTA letter is a stark contrast with the aggressive promises he made to hardworking families during the campaign".

USA refiners want Mexico to send more raw sugar and limit Mexican refined sugar imports. "United Fresh will work to ensure that changes to NAFTA reflect those principles".

US Chamber of Commerce president Thomas Donohue urged US officials to "do no harm" to businesses that depend on trade with Canada and Mexico and to move quickly on a new trilateral deal. "A renegotiation would only benefit IP owners, as the standards would not be lowered". "It is stable and embodies the rule of law", he said.

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