New Pieces on NAFTA, Mexico, and Venezuela

New Pieces on NAFTA, Mexico, and Venezuela

Kerry Wise
August 27, 2017

Prior to his election, U.S. President Donald Trump roundly criticized the North American Free Trade Agreement (NAFTA).

However, Reuters says Mexico and Canada dismissed Trump's threat, describing it as a negotiating tactic created to gain an advantage during the negotiation effort.Trump said he believes the US will "end up probably terminating NAFTA at some point".

Boyle said NAFTA has been a major gain for dairy farmers in Arizona and the USA generally, which is why he is concerned by Trump's comments about terminating the deal.

"There is nothing that will distract us from our serious approach and positive as we take in these negotiations", said the prime minister Justin Trudeau, Wednesday, during a press briefing held in the afternoon in Montreal. This was hotly debated in the context of the Trans Pacific Partnership but is totally meaningless in terms of a trade deal with Canada and Mexico - both of whom (like the United States) float their currencies on worldwide markets and don't do any manipulation.

Suggesting a termination might help jumpstart the negotiations, Trump added: "I personally don't think you can make a deal without a termination".

But after the election, Trump disappointed many of his supporters for whom the trade deals were an important part of the reason for their support of the NY developer, when he announced that he had decided not to end NAFTA, but instead was going to renegotiate.

Mexico's foreign minister also shrugged off the Trump tirade as par for the course, initially tweeting that Mexico would remain at the table, calm and firm in Mexico's national interest. Luc Laliberté, who teaches U.s. history at Cégep Garneau in Quebec city, told TVA News that the remarks of Donald Trump's put the negotiators in a hard context. Trump said then that he had changed his mind after speaking with the political leaders of Canada and Mexico.

The three nations started formal negotiations to tweak the trade agreement this month. "You have to wait a long time" for the process to play out, he said.

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Jones also predicted that eventually "sanity will prevail"-that the US government will recognize that the United States benefits from an economically unified North America".

A recent analysis of lobbying data reported on by the International Trade Daily, 155 ITD (Aug. 14, 2017), has revealed a significant increase in lobbying of members of the U.S. Congress on NAFTA in the run up to the negotiations for amending that trade and investment agreement. It's credited with fostering a rapid rise in commerce and closer diplomatic ties among the three countries, but the agreement has long fueled heated criticism in the USA because it led some American-based manufacturers to move operations south of the border to capitalize on lower-wage Mexican labour.

The five full days of NAFTA meetings saw negotiating teams led by United States Trade Representative Robert Lighthizer, Canadian Foreign Affairs Minister Chrystia Freeland and Mexican Secretary of the Economy Ildefonso Guajardo cover more than two dozen different negotiation topics.

Pulling out of NAFTA, Bacus said, would spur a reinstatement of import tariffs on USA beef as high as 25 percent and potentially cause a glut of beef, pork and chicken in the U.S. "The president's going to have to make a choice when he get a pretty vanilla NAFTA modernization-whether or not he's going to withdraw".

Joshua Roberts / Reuters U.S. President Donald Trump speaks to the National Convention of the American Legion in Reno, Nevada, U.S., August 23, 2017.

Trade includes everything from manufactured goods to farm products.

The three-country trade pact, which virtually wiped out agricultural import duties, allowed U.S. U.S. farm product exports to more than quadruple from 1993 to 2016, Colorado Farm Bureau Federation President Don Shawcroft said in a recent recording published by the USDA.

"NAFTA has been incredibly successful for our industry", said Jennifer Myers, a spokeswoman for the National Corn Growers Association.