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
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
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.
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.