US Offers Proposal That Could Kill NAFTA in Five Years

13 Октября, 2017, 00:44 | Author: Dustin Murphy
  • USA Trump und Trudeau im Weißen Haus | NAFTA

I love Mexico, said Trudeau, whose arrival in Mexico City followed a day of meetings in Washington, D.C., focused on rescuing the ailing North American Free Trade Agreement.

US President Donald Trump said this week that while an agreement is possible for NAFTA renegotiations, the option of making a pact with Canada that excludes Mexico remains on the table. "So we'll see what happens with NAFTA", Trump said, adding that it "has to be fair to both countries".

Besides aiming to clinch a US trade deal or forming some new trade grouping, some British supporters of Brexit have pondered joining an existing trade alliance such as NAFTA. In addition, officials said they are preparing for the possibility of ending the NAFTA and moving United States $1 trillion in annual trade.

"There's a path to be optimistic", he said.

Trudeau will travel to Mexico on Thursday to hold additional NAFTA talks with his Mexican counterpart, Enrique Pena Nieto. "We have to protect our workers".

The country's foreign relations secretary said this week it would not be a big deal for Mexico to just walk away from the talks, and that Mexico won't accept "limited, managed trade" _ an apparent reference to demands for higher US and regional content rules on products like auto parts.

"It's possible we won't be able to make a deal, and it's possible that we will", he said.

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In an e-mail, Mr Curtis S. Chin, a former United States ambassador to the Asian Development Bank and a senior fellow with the Milken Institute, a non-partisan economic think-tank, wrote: "With Nafta now more than 20 years old, it could well use some revisiting and updating".

Current NAFTA rules require cars have at least 62.5 percent of their parts made in the U.S., Canada or Mexico.

As well as the sunset clause, the United States wants to boost how much North American content autos must contain to qualify for tax-free status and eliminate a dispute settlement mechanisms that Canada insists must stay.

"Withdrawing from or weakening trade agreements like NAFTA would only benefit our competitors in Europe and Asia, including China", Bolten said.

The part supplier group said Thursday that USA automakers would be at a disadvantage if they face higher tariffs than their counterparts in other countries outside of North America do. The National Automobile Dealers Association said it was concerned about any changes that would make cars costlier. USA negotiators have countered with a proposal that would effectively grant the other countries less access, people familiar with the talks say.

Ottawa and Bombardier in turn accused Boeing of manipulating the US Trade Remedy System to try to stop a rival from selling on the US aviation market. American Express, AT&T, GM and Delta were listed on publicity material for an event hosted by the U.S. Chamber of Commerce in Mexico on Tuesday, where Donohue warned that several U.S. proposals in the NAFTA talks were "poison pills" that risked dooming the agreement. "We have always understood that draining the swamp would be controversial in Washington".

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