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etvfutures.com October 22, 2017


Florida business groups to Trump: Back off plans to kill NAFTA

12 October 2017, 09:49 | Opal Carroll

Are the British Preparing to Join NAFTA?

USA Trump und Trudeau im Weißen Haus | NAFTA

But there are growing doubts that it will survive through its 24th.

The policy is favoured by the US President Donald Trump.

Trump's stance has, however, been criticised by U.S. businesses.

The renegotiation of the NAFTA, including the fourth round began Wednesday in Virginia, were on all lips during the day. The negotiations were extended on Wednesday by two days to Oct 17.

"What is the administration going to do?"

"If the required content to hit the threshold for a NAFTA vehicle is too high, people may say, 'Look, it's just too hard, it's too high, so we'll just ship the vehicles in, '" Magna International Inc.

Blowing up the deal appears to be Trump's favored choice. I happen to think that NAFTA will have to be terminated if we're going to make it good.

Prime Minister Trudeau says he's ready for the end of NAFTA if no satisfactory deal can be achieved with the US.

"I think again some of these deals have lacked enforcement".

Levy pegs the chance of NAFTA's survival at less than 50 percent.

If the US can't strike a NAFTA 2.0 deal, Farm Journal Washington correspondent Jim Wiesemeyer says that's a question no one wants to answer. American farmers depend on Mexico's market. Countless manufacturing plants throughout our country have closed and hundreds of thousands of good jobs to Mexico have vanished.

Many in Mexico have said that it is better to move forward without a trade agreement than to "submit to an evil agreement".

European Union says Brexit talks 'deadlocked' but progress possible
But Britain says these issues are closely intertwined with their future relations like trade and must be discussed together. Clearly we'd like them to give Michel the means to broaden the negotiations, it's up to them whether they do it.


But the US president also said it's too early to give up on the negotiations, which resumed Wednesday in nearby Alexandria, Va.

Trump made revamping or ending NAFTA - which he has called "a bad deal for our country" - a core pillar of his election campaign as he promised more benefits for USA workers in worldwide trade deals.

Rep. Richard Neal of MA, the ranking Democrat on the committee, said he hopes NAFTA will expand Canadian market access for US cultural industries and "will be an opportunity to update intellectual property rules". It also wants to scrap a dispute-resolution process favored by Canada.

"These will be met with widespread opposition from Canada and Mexico".

Trudeau told reporters that he is still optimistic about the NAFTA though Canada needs to be "ready for anything".

Earlier Wednesday, during meetings with members of the House Ways and Means Committee, the Canadian prime minister stressed that he did not want negotiations to collapse. "I'm not surprised that Ambassador Lighthizer hasn't been able to square that circle".

But even Trudeau finally acknowledged his enthusiasm for the North American Free Trade Agreement can only go so far and there exists the possibility the trilateral pact with the United States and Mexico is in trouble. And with no trade incentive to manufacture in the United States other than to avoid the 25 percent truck tariff, more full vehicle production would migrate to low-priced countries such as China, auto experts say. Some of the tariffs wouldn't be especially high.

For that reason, many agricultural lobbies and lawmakers from farm states have urged the administration to "do no harm" in the NAFTA talks.

Canada is the largest secure supplier of energy to the United States.

NAFTA negotiators face tough new USA demands to increase regional content for autos to 85 percent from 62.5 percent, with 50 percent from the United States, according to people briefed on the plan.

NAFTA supporters are already rallying. Canadians and Americans know that we are all better off when we work together to grow the middle class and create prosperity on both sides of the border.



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