Saturday, 24 October, 2020

Trump administration releases NAFTA negotiating plan

Prime Minister Justin Trudeau meets U.S. President Donald Trump last weekend at the G20 summit in Hamburg Germany. Trudeau's government has been working hard to persuade the Trump administration of NAFTA's value Trump administration releases NAFTA negotiating plan
Christy Curtis | 19 July, 2017, 02:00

The United States will seek to balance trade deficits and add items on a "digital economy" and labor and environmental obligations when renegotiations of the deal commence next month.

The United States said its top priority for the talks was shrinking the U.S. trade deficit with Mexico and Canada, a recurring complaint of U.S. President Donald Trump.

Robert Lighthizer released a detailed summary of the aims of the Trump Administration in negotiations with Canada and Mexico over the trade agreement.

U.S. President Donald Trump has pushed for a renegotiation of NAFTA, threatening to dump it if he can not rework the accord to the benefit of the United States.

The summary also calls for establishing rules that ensure NAFTA countries "do not to waive or derogate from the protections afforded in their environmental laws for the objective of encouraging trade or investment". The USTR summary promises to include labor provisions in "the core of the Agreement rather than in a side agreement", according to the document.

The negotiating summary also pledges to strengthen so-called rules of origin dictating the amount of North American content included in products, eliminate barriers to US investment in all sectors, and secure commitments from Canada and Mexico not to manipulate their currencies.

Rules of origin are another area cited in the report, as USTR wants to "update and strengthen the rules of origin, as necessary, to ensure that the benefits of NAFTA go to products genuinely made in the United States and North America", and "ensure the rules of origin incentivize the sourcing of goods and materials from the United States and North America".

Sasikala prison bribery case: Bengaluru DIG D Roopa transferred to traffic department
Abdul Karim Telgi, the kingpin of a multi-crore stamp paper fraud that hit the headlines about a decade earlier, was another. Rao, however, denied the charges and welecomed the inquiry into Moudgil's report.

The Trump administration said its goal is to create a NAFTA modernized to reflect the standards of the 21st century, and represent a "fairer deal" - a theme the president has repeated.

Since notifying Congress on May 18 of its intentions to initiate NAFTA renegotiations, the USTR has been conducting consultations with Congress, stakeholders and the public at large. Negotiations are set to begin in August. The nation's officials have called for Nafta talks to finish by the end of this year to prevent them from mixing with election politics ahead of the presidential vote.

The document also calls for a revised NAFTA to be more transparent when it comes to regulation and other government decisions as called for by businesses and civil society.

The Mexican peso, which plunged after his surprise November victory on concerns he would take tough action on Mexico, has regained since its losses.

At home, it has received some 12,000 written submissions and consulted extensively with some 450 stakeholders, primarily management and labour in the industry sectors most dependent on maintaining an open border with the US _ automotive, aerospace and food processing sectors among them. The duties were less aggressive than expected. Indeed, the toned-down nature of the American objectives was taken as a sign that Canada's intense outreach effort in the U.S.is already paying off. Trump on Monday hosted companies from all 50 states that make products locally.

As it stands, there's nothing in the outline "where you could say, this is how we get rid of the trade deficit", Levy said.

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