Mexican Media Brands
U.S. Says No Deadline on New NAFTA Deal
The U.S. could update the North American Free Trade Agreement with Mexico and Canada by year-end, but it says there is no formal deadline for a new deal.
#economics
Share
The U.S. could update the North American Free Trade Agreement with Mexico and Canada by year-end, but it says there is no formal deadline for a new deal.
One of President Donald Trump’s campaign promises was to revise NAFTA or walk away from the 23-year-old agreement unless the pact can be adjusted to remove what he considers elements that are unfair to U.S. interests.
Trade Representative Robert Lighthizer tells a Senate finance committee hearing that many people consider it unrealistic to expect a new NAFTA accord by the end of 2017. Formal talks aren’t expected to begin until mid-August. But senators caution that protracted talks would hurt U.S. business and farming interests.
Lighthizer also says any effort by the Trump administration to curb the sale of foreign steel and aluminum will be tempered by exclusions for materials that aren’t made in the U.S. Results of a Trump-ordered investigation into possible national security implications of current trade practices for the two metals is due at the end of June.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
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.