NAFTA Renegotiation Initiated by Trump Administration

The first step towards the renegotiation of the North American Free Trade Agreement (NAFTA) was taken by President Trump’s administration last week. The renegotiation of the 23-year-old agreement could possibly influence more than $1.2 trillion in annual trade and will seek to lower the trade deficit. Robert Lighthizer, the U.S. Trade Representative (USTR), gave official notice to Congress of the renegotiation on May 18, with negotiations set to begin no earlier than August 16. Earlier this week, the Office of the USTR issued a Federal Register notice to request public comments by June 12 on negotiating objectives regarding the modernization of NAFTA, and also to announce a public hearing on June 27 at 9:00 a.m. at the U.S. International Trade Commission (USITC). The National Association of Manufacturing will be preparing and submitting comments and testimony.  See Bloomberg, USTR and Federal Register Notice


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