US Publishes Objectives For NAFTA Update

Prime Minister Justin Trudeau meets U.S. President Donald Trump last weekend at the G20 summit in Hamburg Germany. Trudeau's government has been working hard to persuade the Trump administration of NAFTA's value

With the publication of more than a hundred goals, it is hard to say how many of them will be attractive and well-adopted in the renegotiation of the NAFTA.

However, while Trump's administration argues NAFTA is a failure due to the trade deficit between the United States and its neighbors, many economists argue the deficit is driven by macroeconomic factors and not trade agreement provisions.

On Tuesday, Canadian ambassador to the U.S. David McNaughton said in a speech in Edmonton that Canada would be willing to discuss whether the dispute mechanism needs to be "improved or modernized".

However, Kind says the system should be "fair and balanced" and he does not believe that is now the case.

The administration's goals for renegotiating the North American Free Trade Agreement, released late Monday, may have looked dry. Notwithstanding some protectionist demands by the US, which will require the give something in return for any Canadian and Mexican concessions, the North American partners now have a genuine opportunity to bring NAFTA into the 21st century and form the basis for a growing and sustainable North American economy. The U.S. Commerce Department in June rolled out a new round of tariffs on Canadian softwood lumber.

For its part, Mexico has received the demands of its neighboring country and is ready to start the negotiation process during the month of August, according to the Ministry of Economy.

The public relations battle was apparently sparked by the Trump administration's unequivocal statement on Monday that a renegotiated NAFTA must deliver more for the U.S.

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Despite this logical reasoning, the discourse of the new administration continues to seek an enemy overseas, especially if it is close to its borders.

Enshrining regulatory co-operation within a revised NAFTA would remove the cloud of uncertainty hanging over the existing Canada-U.S. In releasing the summary, his office said, "The negotiating objectives aim to apply the highest standards covering the broadest possible range of goods and services to ensure truly free and fair trade that supports higher-paying jobs and economic growth in the United States".

It's the first time that USTR has included deficit reduction as a specific objective for NAFTA negotiation, reflecting the Donald Trump administration's determination to address the trade deficit.

The Liberal government is now accepting input from the public on a renegotiated deal, asking what elements of NAFTA should be preserved, what should be improved and what new issues need to be addressed to modernize the 23-year-old agreement.

Trump has called NAFTA the "worst deal ever" and has threatened to leave the agreement.

Rep. Grijalva, D-Tucson, also said that protecting agricultural trade in any renegotiated deal is vital, but he went on to say that pushing for worker's rights in both Arizona and Mexico is an important goal.

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