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.
#economics
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.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.