Markets

President Donald Trump issues NAFTA renegotiation notice; Ohio Democrats skeptical

President Donald Trump issues NAFTA renegotiation notice; Ohio Democrats skeptical

Negotiations with Canada and Mexico will begin as soon as August 16, the administration said.

"This initiative presents a significant opportunity to update NAFTA in a way that will increase the export of more American vehicles and auto parts, and grow the number of high-quality and high-paying American jobs supported by such exports".

Among the provisions that Lighthizer cited that would be addressed in negotiations are intellectual property rights, regulatory practices, state-owned enterprises, labor and environment.

Thursday the Trump administration announced to Congress they would renegotiate the North American Free Trade Agreement.

During the required consultation period, Lighthizer said he would consult with "Congress and American stakeholders to create an agreement that advances the interests of America's workers, farmers, ranchers and businesses", according to a statement.

However, Meyer said that the letters may signal to Congress that the trade representative "realizes achieving major changes to NAFTA could be hard".

Perdue said while NAFTA had been "largely beneficial for American agriculture, any trade deal can always be improved".

Steve Verheul will be the chief negotiator on Canada's NAFTA renegotiation team, CTV News has confirmed.

"I want to be optimistic because I think it's important that we get a good agreement", Hoback said.

Commerce Secretary Wilbur Ross said Thursday with the NAFTA announcement "we intend to notify not just Congress, but all our trading partners, that free and fair trade is the new standard for U.S. trade deals".




But he noted that trade deals can take years to negotiate and that USA mid-term elections, as well as a presidential election in Mexico next year, will take place during NAFTA talks.

He added that the agreement was outdated and did not reflect modern standards.

On Thursday the Trump administration officially began its effort to renegotiate NAFTA with Canada and Mexico.

"NAFTA has been vital to the growth of the USA insurance industry, but as with any agreement that's almost a quarter of a century old, NAFTA can be improved". "There is value in making the transition to a modernized Nafta as seamless as possible", he said.

Economists generally agree that NAFTA has benefited the USA economy overall by increasing trade.

Like most US congressional Republicans, Mexican and Canadian officials are also wary of major changes that could hurt their exports to the USA or even alter the three-way framework that underpins Nafta.

Canadian Foreign Minister Chrystia Freeland said that NAFTA has a track record of "economic growth and middle-class job creation" on both sides of the border and that 9 million American jobs depend on trade and investment with Canada.

"The United States values its strong economic ties with Mexico and Canada, and these negotiations should work to enhance our trilateral trading relationship".

The Canadian and Mexican governments are prepared for NAFTA renegotiation discussions. He once referred to it as the "worst trade deal in the history of the world".


  • Judge confirms Prince's 6 siblings as heirs to his estate

    Judge confirms Prince's 6 siblings as heirs to his estate

    Prince died in April 2016 at his home inside Paisley Park in Chanhassen, Minnesota, of an accidental overdose of Fentanyl. Because Prince did not leave a will, federal and state estate taxes are expected to consume about half the value.
    76ers' Joel Embiid Makes His Case for Shot at Rihanna

    76ers' Joel Embiid Makes His Case for Shot at Rihanna

    Embiid played phenomenal in his limited minutes last season, and the team will get last year's No. 1 pick Ben Simmons back from injury.
    Former US Rep. Anthony Weiner faces charges in sexting case

    Former US Rep. Anthony Weiner faces charges in sexting case

    Anthony Weiner is crying in court as he apologizes to the 15-year-old girl with whom he exchanged sexually explicit texts. Weiner ran for mayor of New York City in 2013 during which a similar sexting scandal unfolded.
  • Horizon Pharma PLC (HZNP) Issues Quarterly Earnings Results

    This Beta value of Horizon Pharma plc (HZNP) shows that it has historically moved 192% for every 100% move in the benchmark. Horizon Pharma plc (HZNP) traded with the volume of 4.45 Million shares while its average 3 months volume is at 3860 shares.
    Bobby Moynihan leaving 'Saturday Night Live' for CBS sitcom

    Bobby Moynihan leaving 'Saturday Night Live' for CBS sitcom

    Moynihan's final appearance will be on Saturday's season finale, with host Dwayne "The Rock" Johnson and musical guest Katy Perry. Moynihan will play Alex in present day with Jack Grazer playing young Alex and John Larroquette playing the oldest version.
    Medicaid Expansion Takes Center Stage in Senate Health Care Debate

    Medicaid Expansion Takes Center Stage in Senate Health Care Debate

    Insurers wouldn't be able to decline coverage to these people, but they could make the premiums so high as to be prohibitive. In Massachusetts, more than 190,000 people are enrolled in subsidized insurance plans through the state's Health Connector.
  • Robert Mueller's Appointment As Special Prosecutor, Reportedly A Witch Hunt

    Robert Mueller's Appointment As Special Prosecutor, Reportedly A Witch Hunt

    He says that's why he believes Congress needs to keep conducting its investigations which are meant for the public. Flynn, Trump's fired national security adviser, is a key figure in the Trump-Russia investigation.
    NSA feared its hacking tool would get loose; then it did

    NSA feared its hacking tool would get loose; then it did

    These tools were dumped by the Shadow Brokers last month after a failed attempt to auction off the exploits. What subscribers will do with these exploits and data will be up to them, the group said.
    Trump heads overseas, turmoil in his wake

    Trump heads overseas, turmoil in his wake

    Rosenstein was returning to the Capitol on Friday for another closed-door session, this time with all members of the House. Trump has treated the Russian Federation investigation as a public relations battle pitting him against his many enemies.
  • Erdogan Supporters in Violent Clash with Protesters in Washington

    Erdogan Supporters in Violent Clash with Protesters in Washington

    More than 110,000 people have been detained since a failed coup attempt a year ago . "There must be consequences", Rep. The State Department says it has expressed its concern to the Turkish government in the strongest possible terms.
    US Senate panel still negotiating with Flynn over documents: congressional aides

    US Senate panel still negotiating with Flynn over documents: congressional aides

    Trump fired FBI Director James Comey last week, prompting some to call for an independent prosecutor to lead the investigation. Flynn, a retired Army lieutenant general, was sacked from his position as Trump's national security adviser in February.

    Led Coalition Strikes Pro-Syrian Government Forces

    The commander made a decision to call in an airstrike after warnings were not heeded by the pro-Syrian government force, he added. Without elaborating, a Syrian military source said the airstrike had hit "one of our military points", state TV reported.