Trump to begin renegotiating NAFTA with leaders of Mexico, Canada

Trump to begin renegotiating NAFTA with leaders of Mexico, Canada

The new president's first phone conversation with a foreign head of state came Saturday, when he spoke by phone with Mexican President Enrique Pena Nieto.

The value of exports from Mexico to the United States jumped six-fold from about $50 billion (5.75 trillion yen) in 1994, when the NAFTA took effect, to $300 billion in 2015. Stephen Schwarzman, who leads the president's Strategic and Policy Forum, said the new administration had an "unusually positive" view of Canada. It is unclear how Trump would legally be able to modify or nullify NAFTA without Congressional agreement.

Canada has emphasized that it will pursue its own interests in renegotiating NAFTA (RuizHealyTimes). Nieto agreed to join forces to encourage economic integration in North America, according to a statement from Peno Nieto's office. Nafta ended tariffs for goods "made in North America", but that designation only requires 62.5% of a product's content to be produced in Mexico, Canada or the U.S.

Revamping the 23-year-old deal was one of the central pledges of Trump's presidential campaign.

"Canada has very different relations with the United States than Mexico".

Prime minister Brian Mulroney signs the North American free-trade agreement at a ceremony in Ottawa on December 17, 1992.

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Guajardo reiterated Mexico's insistence that it will not pay for a border wall that Trump has promised to build and said it would not accept any tax or restrictions on the money sent home by Mexican migrants. The survey suggests 57 per cent of Americans believe the new administration should treat Canada "as a valued partner and ally" along with 23 per cent who say the US should be "on friendly terms" with their largest trading partner. This provision allows companies the right to challenge our environmental laws in a special trade tribunal outside the US court system.

"If the US leaves NAFTA, companies in Mexico and Canada may seek alternate, more affordable places to purchase these goods, such as China, India, and other regions with large, worldwide USA competitors", the Center for Automotive Research said.

While Mexico runs a trade surplus with the United States, many sectors in the country also want greater restrictions on USA imports, particularly farm products that many say have helped impoverish subsistence-level Mexican farmers.

The NAFTA countries have a few different options, Barrie McKenna explains: Go back to the original Canada-U.S. FTA (which would leave Mexico with nothing), renegotiate the existing deal with Mexico included, or draw up an entirely new bilateral deal that keeps the parts of NAFTA that Canada likes.

One means by which the president could encourage his fellow citizens to follow that plan is to tax imports to the United States or impose fees on companies exporting labour on items for sale in the US - just as he threatened with Toyota and Ford Motor Co. earlier this month. Damon Hunt, spokesperson for the Australian PM said that Trump could have a change of heart and the trade deal could proceed. I think we should be vigilant.

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