German foreign minister says concerned about NAFTA renegotiation

German foreign minister says concerned about NAFTA renegotiation

WASHINGTON-The Trump administration has written to Congress telling legislators of its plan to renegotiate the North American Free Trade Agreement.

"Congress and the administration must work hand-in-hand if we are to achieve the high-standard trade agreements our country needs to grow", says Senate Finance Chairman Orrin Hatch, R-Utah.

Renegotiation talks will begin no earlier than Aug 16, he said in a statement. That's why the public and Members of Congress must hold him accountable and demand that the Administration renegotiate NAFTA in a way that protects American workers and raises wages. "Central to any successful NAFTA negotiations will be changes to Canada's new policies created to harm bilateral trade and dump their structural dairy surplus on the world market". The legal battles can take years to resolve.

"Since the signing of Nafta, we have seen our manufacturing industry decimated, factories shuttered, and countless workers left jobless". "President Trump is going to change that".

Nonpartisan congressional research concluded in 2015 that NAFTA had not caused an exodus of jobs, nor was it a major job creator.

In a notification letter sent today to Congress, Ambassador Lighthizer outlined some of the areas of the agreement that are either outdated or missing - several of which are important to the USA dairy industry - and reaffirmed commitment to pursuing the trade priorities outlined by TPA, including goals related to market access and curbing the abuse of geographical indications. However, their tone on NAFTA was a little different.

"Mexico expects a constructive negotiation that allows more cooperation, economic integration, and boosts regional competitiveness", Mexico's economy ministry said in the statement on Thursday.

The National Grain and Feed Association, another organization weighing in on NAFTA, noted that one of every 10 acres of US farmland grows agricultural products destined for Mexico and Canada.

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Under the new tax regime, rates will range from 5 to 28 percent, with 12 percent and 18 percent being the standard rates. Presently, the central excise of 27 per cent is applied along with a value added tax (VAT) of 12.5 to 14.4 per cent.

"There's only one team in the ice: We're not in the game yet", Herman said.

Canada's Foreign Affairs Minister Chrystia Freeland, who met Mr Lighthizer on Tuesday and meets her Mexican counterpart in Mexico City next week, also said the negotiations must be among the three nations.

U.S. lawmakers echoed a similar sentiment, expressing a desire to update NAFTA while recognizing its benefits. Offering insight into how Mexico may seek to broker a deal, Moises Kalach, a linchpin of the country's private sector defense of NAFTA, said USA business leaders and government officials were increasingly persuaded that existing supply chains should not be disrupted - but that future production lines could be tailored to provide more work for North America. Brady leads the House Ways and Means Committee which will play a big role during negotiations. "We look forward to working with Ambassador Lighthizer and other Trump Administration officials during the renegotiation process to provide helpful data and input".

Loewer said during that 90 day period anything could happen. The administration will need to rally lawmakers behind its negotiating position, a hard task in a polarized political environment.

A quick turnaround on NAFTA would be a much-needed win for the embattled president, who learned this week that former Federal Bureau of Investigation director Robert Mueller will investigate Russia's role in the 2016 election and possible links to the Trump campaign.

The time line to get a deal done is narrow too. A trade war could devastate rural economies that are often fragile to begin with. But Mexico has presidential elections in July 2018 and President Enrique Pena Nieto can't run due to term limits.

U.S President Donald Trump's administration on Thursday set the clock ticking toward a mid-August start of the renegotiation of NAFTA with Canada and Mexico to try to win better terms for US workers and manufacturers.

United States congressional mid-term elections in the fall of 2018 may also weigh on the Trump administration to make progress.

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