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Trump playing 'bad cop' in NAFTA negotiations

25 August, 2017, 01:26 | Author: Paula Vaughn
  • NAFTA Round One Gordon Johnson Weighs In On Free Trade's Effects On Steel Manufacturing

Daniel Ujczo, a trade lawyer with Dickinson Wright, said he doubts that an overhauled NAFTA would do much to narrow America's trade deficit or restore lost USA manufacturing jobs - results that Trump had vowed to deliver to the blue-collar voters in the Midwest who helped elect him.

There is good reason to be cautious in revising this agreement.

Statistics from the International Trade Adminstration show that Mexico is Arizona's biggest trading partner, with the state sending $8.3 billion in exports there in 2016 and getting $7.5 billion in imports that year.

That's because the president can't just erase the 1994 NAFTA Implementation Act passed by Congress. US consumers benefit hugely from free trade, but many factory workers say they've gotten a raw deal, with their jobs outsourced to Mexico.

Duvall pointed out that total USA agricultural exports are projected to reach $137 billion this year, while agricultural imports are forecast at $114.5 billion, giving the US a $22.5 billion trade surplus in agricultural products.

But Bennett added that the Texas economy "loves NAFTA" and that negotiations must be taken seriously to avoid any harm to Texas businesses which "hate uncertainty" because it does not allow them to plan for the future. You negotiate and get middle of the road. and if it's to your best interest you do it.

Here's a quick refresher on NAFTA.

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Credit ratings agency Fitch Ratings said a failure to raise the ceiling in a timely manner would prompt it to review its rating on USA sovereign debt, "with potentially negative implications".

Currency strategists were forecasting the USA dollar to regain some strength in the second half of this year, however. By "helping" the manufacturing sector, renegotiation of NAFTA may hurt the Automotive Industry.

"This is a great opportunity to strengthen the North American region", said Manuel Herrera, president of the Confederation of Industrial Chambers (Concamin) and a member of an advisory body to the trade negotiators. Our trading partners should be assured quality US products will remain available and affordable for them, with the focus on increasing opportunities for USA exporters.

Along with calling for improvements to the dispute settlement process, Freeland said Canada wants "progressive" elements in a new NAFTA: stronger labour standards, tougher environmental protection provisions as well as chapters on gender and Indigenous rights.

"Unless Mexico and Canada capitulate to some of Trump's aggressive demands in negotiations during the next four months, termination looks genuinely possible", Hufbauer added.

"The president spent more time trolling our US senators than he did outlining a positive economic vision as it relates to trade".

I join producers in Nebraska and across the country in watching closely as NAFTA negotiations continue. "Quite frankly, I think opening up borders to trade is a very positive thing because it enables the most efficient prices and products to come to market".

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