Peters, Stabenow Statement on NAFTA Renegotiation Talks

Peters, Stabenow Statement on NAFTA Renegotiation Talks

"If the Trump Administration is serious about renegotiating NAFTA, they must ensure it includes new, enforceable standards on currency manipulation to prevent this unfair trade practice from continuing in future agreements". Trade agreements have very little effect on trade deficits.

President Trump's trade team didn't mince words on the first day of trade talks with Canada and Mexico.

"There is an attack on immigrant workers documented and undocumented in the United States and NAFTA has been used to pit US workers against Mexican workers to benefit multi-national Corporations from the USA and around the world", the resolution says.

President Donald Trump, who repeatedly slammed NAFTA during his presidential campaign, calling it the "worst trade deal" the US ever approved, announced his intentions for the renegotiations shortly after taking office in January.

He said the renewed NAFTA negotiations are "absolutely fundamental" to the provincial economy.

Jeffrey Schott, a trade expert and senior fellow at the Peterson Institute for International Economics, a Washington-D.C. based think tank, said many USA lawmakers are also very reluctant to see major changes to NAFTA because of potential losses or uncertainty over the renegotiations.

The views of the President about NAFTA, which I completely share, are well known.

"I want to be clear: He is not interested in a mere tweaking of a few provisions and a couple of updated chapters", Lighthizer said.

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As one trade analyst told NPR's Chris Arnold last week, however, those changes may not be almost as large as the president had indicated in the past. So theres a conceptual flaw in that, one of many conceptual flaws in NAFTA.”. Mulhern said the deal doesn't help US farmers or Canadian consumers.

In lambasting the deal, Lighthizer struck a far more negative tone than his foreign counterparts. While trade on the continent has surged, the impact on the U.S. job market wasn't significant, though some industries and parts of the country were hit hard, according to a study by the U.S. International Trade Commission.

The statements included subtler hints of differences already manifesting themselves before the negotiations.

Mexican officials say the U.S.is losing manufacturing jobs in areas like the Midwest because of increased automation, not outsourcing, and add that a new NAFTA must focus on issues like the rise of e-commerce.

"This will feed into the high anxiety in US agriculture that the farm sector will be used as leverage", Wiesemeyer said. "But over the last 10 years, our deficit in goods has exceeded $365 billion".

Earlier this year, dozens of Wisconsin dairy farms were almost forced out of business when they lost their milk buyer following a trade dispute with Canada.

Last month, the USA served notice it wanted to get rid of measures that restrict cross-border data flows, or require the use or installation of local computing facilities. But I can't have a surplus with my grocer. However, the summary of objectives, a document that outlines the USA position, for the NAFTA renegotiation leaves room for hope. He noted that NAFTA has benefited many Americans, such as farmers, and said the U.S., Canada and Mexico have a strong friendship. The benefits tend to be widespread, but the costs tend to be acute.

Zippy Duvall, president of the American Farm Bureau Federation, said many agricultural groups are concerned about the emphasis on creating a more equitable trade balance if agriculture becomes a bargaining chip to equal out losses in manufacturing, for example.

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