President Donald Trump said Thursday he had "serious concerns about the North American Free Trade Agreement (NAFTA)", but was indifferent whether the trade agreement between Canada, Mexico and the USA should be "changed" or "renegotiated entirely". Under U.S. law, Congress has 90 days to review trade deals before they are signed.
Trump says he doesn't care if "it's a renovation of NAFTA or a brand new NAFTA", as long as it's fairer for USA workers.
The president has said he'd make trade negotiations a top priority.
Trump sounded open to either of those approaches.
Renegotiation of the North American Free Trade Agreement (NAFTA) will not begin until May at the earliest, the Mexican government said this week, according to a Reuters report. 'We have to be treated fairly'.
In particular, some blame the loss of jobs in US manufacturing on the NAFTA agreement with Canada and Mexico, the US-Korea Free Trade Agreement, and China's accession to the WTO.
"It's the right of this president and future presidents to put their mark on on trade agreements", Loon said.
The Canadian government sounds willing to go either route. 'That's why they're leaving.
Nearly tragically, successive Mexican governments regarded NAFTA as a silver bullet that alone would transform Mexico's economy into one of sustained prosperity. Those countries' share of total U.S.ag exports has grown to 28 percent, from 19 percent, since NAFTA took effect.
"The key word is sudden", he said. "If NAFTA can be strengthened to demand standards in line with ours here in the US then it will help workers in Minnesota".
So I just want to thank the four of you for being here.
"Canada is unique in that we not only want to grow and develop our domestic market, but our growing season and climate doesn't allow exotics and others, and the USA and Mexico are vital for us to enable a year-round supply of products".More news: Lars Larson calls press secretary 'Commander Spicer' during White House briefing
Smaller and poorer, Mexico can still make the USA economy feel significant pain should Donald Trump choose to exit the North American Free Trade Agreement.
Trump held discussions Thursday with key lawmakers about trade and NAFTA.
Arlington cattle feeder Bill Rhea is counting on those close to the president to make ag's case.
"As a business organization, we'd be pleased to see (Trump) re-enter negotiations, whether in multinational groupings or more of a bilateral approach", said Doug Loon, president of the Minnesota Chamber of Commerce.
That news could relieve some people in Ottawa. "The place they can hit back as fast as they can to try to affect our pocket book is the food". "Trade between the three countries should be exempt from any tariff or quota, as has occurred since 2008". The Mexican government said on Wednesday that it's beginning a review process with the country's Senate and business sector. "I welcome Commissioner Malmström's statement and urge both parties to speed up these negotiations".
Since NAFTA, U.S. exports to Mexico increased by 3.5 times to $240 million annually, slightly less than with the European Union but with a $60 billion annual deficit.
Meanwhile though, we are still left waiting for a new softwood lumber agreement.
It might not be easy. Ross did not commit an answer.
The U.S. International Trade Commission predicted TTP would have meant a net increase of 128,000 full-time U.S.jobs in 15 years.
A former Canadian economic official at the Washington embassy called Ross a solid choice. His charge against NAFTA has been largely based on the idea that American workers have lost jobs to companies who set up shop in Mexico.
"It's all in the way you write the rules", said Eric Miller, who now runs a consulting firm, Rideau Potomac Strategy Group. "Which means he will get the importance of pragmatism".