Trump administration to launch NAFTA renegotiation

20 Mai, 2017, 04:26 | Author: Claudine Rigal
  • Reuters

Negotiated by President George H.W. Bush and signed into law by President Bill Clinton, NAFTA took effect on January 1, 1994. During the 1992 presidential campaign, independent candidate Ross Perot famously predicted a "giant sucking sound" as NAFTA pulled US factory jobs south of the border into Mexico.

Newly installed US Trade Representative (USTR) Robert Lighthi- zer formally notified Congress of the intent to revamp the 23-year- old pact with Canada and Mexico, which accounts for about US$1 trillion (S$1.4 trillion) in annual trade. Lighthizer told reporters that any new deal should do a better job of protecting USA factory workers and should be updated to reflect new technologies.

"The United States seeks to support higher-paying jobs in the United States and to grow the US economy to improving USA opportunities under NAFTA", he wrote. But the pact did encourage American manufacturers to relocate some operations to Mexico to take advantage of cheaper labor there; so critics blame NAFTA for wiping out USA factory jobs. But so did America's trade deficit with Mexico. But the trade gap has widened partly because American consumers are eager to buy relatively low-cost cars and other goods from Mexico.

"The 2015 Trade Priorities and Accountability Act gives farmers, ranchers, the agriculture community and other stakeholders the opportunity to provide input and share our significant expertise with US negotiators". "Mexico is our only $1 billion dairy market; finding a replacement for sales that are so critical to supporting tens of thousands of jobs across this country is no small task, so preserving it is essential".

"Working closely with Congress and following the requirements of the Trade Priorities and Accountability Act, we will continue to review elements of NAFTA and, where appropriate, update USA approaches to address the challenges faced by USA consumers, businesses, farmers, ranchers and workers in an increasingly global economy", Lighthizer wrote. "The Peterson Institute for International Economics, a pro-free trade think-tank in Washington, estimates that the USA loses about 203,000 jobs and gains 188,000 annually" on account of two-way trade with Mexico".

Which Player Will Win the 2018 World Cup Golden Boot?
His Real Madrid side played quite poorly this season and he has been dealing with large shares of the criticism himself. This is something which will only further his playing career and his first accolade may come as soon as this summer.


Rudy Gobert dans la deuxième équipe-type de la saison — NBA
Gobert est encore en lice pour le trophée de meilleur défenseur de la saison qui sera attribué le 26 juin. Blessé à un genou puis à une cheville, Gobert n'a pu jouer les play-offs qu'avec intermittence.


Chinese Investment in exchange of EB-5 Visas
The reforms included efforts to revive that the program's original intent of providing investment in rural and distressed urban areas.


NAFTA was first put into practice in 1994 with the intention to bring North America closer economically by eliminating tariffs and putting in place dispute processes in addition to agreements on labor and environmental standards.

Thursday's letter had fewer specifics. Together they represent more than 85 percent of the milk, cultured products, cheese, ice cream and frozen desserts produced and marketed in the United States.

"Trump's renegotiation plan that leaked in late March described just what the corporate lobby is demanding: using NAFTA talks to revive parts of the Trans-Pacific Partnership, like expanded investor incentives to offshore jobs that could make NAFTA even worse for working people". "Furthermore, Canada and Mexico are the United States' top trading partners and empirical evidence shows that all three countries reap significant economic benefits from the relationship".

Lawrence Herman, senior fellow at the C.D. Howe Institute, told BNN Friday he has "great confidence" in Canada's foreign minister and her team to deal with the major challenges that may come from the NAFTA renegotiations.

Conseillé:

  • Canada Annual Inflation Rate Advances 1.6% in April

    Canada Annual Inflation Rate Advances 1.6% in April

    Aside from food, clothing and footwear was the only sector to see prices drop in the past year, by two per cent. Five others saw their inflation rate decline, whole three experienced an increase in inflationary pressures.
    Jose Mourinho says Manchester United's last Premier League game should be moved

    Jose Mourinho says Manchester United's last Premier League game should be moved

    Romero insisted after his star turn that the Europa League final in Stockholm is the club's biggest match of the season as they look to book a Champions League spot for next term.
    Aucun homme politique n'est traité

    Aucun homme politique n'est traité "plus injustement" que moi, estime Trump — USA

    La Maison-Blanche a catégoriquement démenti cette affirmation, précisant que le président n'avait "jamais demandé à M. Comey ou qui que ce soit d'autre de clore aucune enquête ".
  • Chelsea to beat Manchester United to Monaco midfielder with quick €50m bid

    According to the Telegraph's Matt Law , we also having passing interest in Thomas Lemar and Benjamin Mendy as well, but Bakayoko is the priority.

    NHL Predators mince Ducks to take series lead

    The Predators took another lead when Forsberg converted a rebound of a breakaway by speedy Viktor Arvidsson , who had two assists. The Predators insist they can play that game too - and keep their cool no matter what pesky Ducks center Ryan Kesler does.
    Navy veteran in custody after Times Square crash

    Navy veteran in custody after Times Square crash

    White House press secretary Sean Spicer tweeted that Trump was briefed before NY authorities confirmed the death. Planet Hollywood said Bradix "selflessly and heroically took action, helping to stop the fleeing suspect".
  • NSA 'WannaCry' hackers have 'compromised' data that could include foreign nuclear codes

    The group also has intelligence gathered by the NSA on foreign banks and ballistic missile programs, it said. The US government has not commented directly on the matter.
    Oil up on falling U.S.  inventories

    Oil up on falling U.S. inventories

    Global benchmark Brent crude, according to Reuters news agency, settled up $1.49 a barrel, or 3 per cent, to $50.22 a barrel. Crude prices rose further in Asia on Thursday, building on overnight gains following an upbeat report on USA inventories.

    Huddersfield Town boss ready to tame Hillsborough crowd

    But opportunities were at a premium with Izzy Brown clipping the bar the closest that either side came to a breakthrough. His long range left-footed strike curled just wide of the target. "But we have to see it as a normal game".
  • Kevin Mayer et Ryad Boudebouz honorés — Montpellier

    Kevin Mayer et Ryad Boudebouz honorés — Montpellier

    L'international algérien n'aura passé que deux saisons dans l'Hérault, mais son passage aura fortement marqué le club pailladin. Ryad Boudebouz devrait quitter Montpellier cet été.
    Emmanuel Macron va recevoir le secrétaire général de l'Onu ce soir

    Emmanuel Macron va recevoir le secrétaire général de l'Onu ce soir

    Le secrétaire général de l'ONU , Antonio Guterres, a condamné lundi un nouveau tir de missile balistique par la RPDC. La France est l'un des cinq membres permanents du Conseil de sécurité de l'ONU .

    Big-spending Aussie Budget is supported by hefty taxes

    Mr Morrison has not said whether he still intends to return to surplus by 2021, a key pledge he made a year ago . The budget deficit will be $29.4 billion in 2017-18, improving to a surplus of $7.4 billion by 2020-21.


Populaire

Strasbourg et Amiens en L1
Rapidement menés 0-2, les Troyens ont réussi à renverser la vapeur avec des buts signés Darbion (60e), Nivet (78e) et Niane (88e). Dernière journée de Ligue 2, ce vendredi (20h30), avec six équipes qui peuvent encore espérer accéder à la Ligue 1.

Italy makes 12 vaccines mandatory for school-age children
The law will also oblige inoculation against polio, diphtheria, tetanus, hepatitis B, whooping cough, and haemophilia B. Italy has recorded almost three times as many measles cases so far this year than for all of 2016.

Hertz Global Holdings, Inc. (HTZ)
Knott David M acquired a new position in shares of Hertz Global Holdings during the fourth quarter valued at about $539,000. The difference between the expected and actual EPS was $-0.7/share, which represents an Earnings surprise of -76.9%.

Oil prices continue their advance as focus shifts to API supply report
According to estimates from global pricing company S&P Global Platts, Kuwaiti crude oil producing has been relatively stable. Brent crude is still about $3 per barrel below where it started the year and about 7 percent below the late February peak.

Hope good sense prevails and Pakistan frees Jadhav: CPI
The resolution further reads that it was foolish on government's part to accept jurisdiction of the ICJ in this matter. Meanwhile, Pakistan said the ICJ's decision has not changed the status of Jadhav's case in any manner.

Minority likely as NDP, Liberals at 42 seats each, three Greens
Horgan has said he would use all of the tools at his disposal but hasn't been very specific about what those are", she said. That would be a long-term win for them so that's one they may be willing to risk in supporting the NDP", said Harrison.

Arthur De Greef en quarts de finale sur abandon — Challenger de Bordeaux
De Greef avait remporté le 1er set 7-6 (7/5) avant la retrait du Sud-Américain. En demi-finale, le Ucclois pourrait retrouver Steve Darcis.

Prosecutors: Times Square driver wanted to 'kill them all'
He pleaded guilty last week to harassment in the Bronx after he was accused of pulling a knife on a notary in his home. The Bronx native enlisted to the US Navy in 2011 and spent two months at a naval prison in SC in 2013.

Alaska Legislature faces more time as session deadline looms
Over the last month, work has continued, particularly in the House, on bills not related to the budget or a fiscal fix. Options include extending for another 10 days, which requires two-thirds support in each chamber, or looking to Gov.

Tite convoque Jemerson et David Luiz — Brésil
Ce vendredi, Tite , le sélectionneur du Brésil, a annoncé sa liste de joueurs sélectionnés pour les matchs amicaux de juin. Marquinhos n'est bien sûr pas mis de côté à cause d'un problème de performance, mais pour être laissé au repos.