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Cutting Trade Deficits Top Trump’s NAFTA Goals
The Trump administration’s top priority in modifying the 23-year-old North American Free Trade Agreement is to shrink U.S. deficits with Canada and Mexico, says U.S. Trade Representative Robert Lighthizer.
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The Trump administration’s top priority in modifying the 23-year-old North American Free Trade Agreement is to shrink U.S. deficits with Canada and Mexico.
U.S. Trade Representative Robert Lighthizer (pictured) has presented the administration’s goals in a 17-page document to Congress. NAFTA talks are expected to begin next month.
Lighthizer says another important objective will be to insert a provision designed to deter currency manipulation by the pact’s partners. Neither Canada nor Mexico have been accused of manipulation. Observers say the stipulation, described as a first in a U.S. trade agreement, is intended to set a precedent for future deals with other countries.
A third priority is to sweep away a NAFTA mechanism for dealing with trade disputes. Lighthizer says the procedure has blocked U.S. attempts to pursue claims of unfair pricing, dumping and subsidies against companies in Canada and Mexico.
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