No NAFTA Update Likely Until Mid-2018?
An updated version of the 23-year-old North American Free Trade Agreement isn’t likely until about July 2018, according to Thomas Donohue, CEO of the U.S. Chamber of Commerce.
#economics
An updated version of the 23-year-old North American Free Trade Agreement isn’t likely until about July 2018, Thomas Donohue, CEO of the U.S. Chamber of Commerce, tells Reuters.
President Donald Trump has threatened to abandon NAFTA unless negotiators can fix what he says are inequities that hurt U.S. jobs and unfavorably skew the country’s trade balances with Canada and Mexico.
But his administration has not yet begun the process by giving Congress the required 90-day notice of its intent to fast-track new talks.That means negotiations won’t begin until August.
Still, Donahue tells Reuters that both the U.S. business community and Trump are determined to find a solution quickly. He says Trump has backed off on the idea of slapping a 35% import tariff on goods from Mexico and is increasingly focused on a deal that will accelerate rather than damage trade.
“We need to move forward on this deal,” Donahue declares. “It is critical to our economic and geopolitical well-being, period.”
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
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.