Florida business groups to Trump: Back off plans to kill NAFTA
- Author: Sonia Alvarado Oct 13, 2017,
Oct 13, 2017, 0:08
The CEO meeting ran in parallel to talks near Washington aimed at refreshing the 1994 agreement, with Mexico, Canada and businesses united in opposition to a number of radical USA proposals they say would damage the North American economy.
Trudeau officials deny Trump is targeting Canada as part of the NAFTA talks, saying the airliner and softwood disputes have been rumbling on for years. Mexico could leave NAFTA and have the strength to move on without any serious long-term structural damage to the economy, he said.
It's fair to say that 2017 has been a turbulent year for Mexico, given that the new White House occupant keeps making public comments threatening North American trade relations. It's the second topic to be agreed on along with the chapter on small and medium-size businesses.
"Despite the non-cooperative approach to some of our Administration's policy proposals, our counterparts in Mexico and Canada are still negotiating with us in full faith". Scheduled talks in this session have been extended by two days to Tuesday. Negotiators start the fourth of seven planned rounds of talks near Washington on Wednesday. "When North America wins, America wins, and the American people win as well", he said.
The updated provisions on competition will allow for more "procedural fairness" in the enforcement of competition law, the statement said. Representatives of the auto industry warned some of the US demands could raise prices for vehicles.
People briefed on US proposals to be presented this week said Washington is seeking to sharply lift North American content threshold in vehicle manufacturing.
NAFTA negotiators face tough new USA demands to increase regional content for autos to 85 percent from 62.5 percent, with 50 percent from the United States, according to people briefed on the plan.
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The hard issue of rules of origin will be addressed mostly at the end of the current talks, according to a schedule obtained by Reuters.
Americans", she said, and acknowledged that changes to the deal would "of course be opposed by entrenched Washington lobbyists and trade associations. Chief Executive Officer Don Walker said in an interview ahead of the talks.
Without NAFTA, Mexico trade experts say USA products would face higher tariffs to enter Mexico, which could further skew the trade balance. Donohue pledged to fight "like hell" to defend NAFTA if Trump tries to pull out, and urged Lighthizer to get a deal. But he said Canada had to "be ready for anything" if the attempts to modernise the 23-year-old deal faltered.
But on the North American Free Trade Agreement, Trump showed no signs of retreat.
"U.S. negotiators have made conditions so tough that Mexico and Canada could reject them, which would be the ideal excuse for the US government to announce its departure from NAFTA", Coutino wrote.
"There's been huge investments in Canada, the US and Mexico, that are long-term assets", said Don Walker, chief executive officer of Magna International Inc. a Canada-based parts maker with more than 25,000 employees in the U.S.
If NAFTA is terminated, up to 50,000 jobs would be lost, the study showed.