What the U.S. Wants From the NAFTA Renegotiations
As efforts to renegotiate the North American Free Trade Agreement kick off this week, Donald Trump will have an opportunity to take action he's been promising since he started his campaign for President-- or again show how his rhetoric is incompatible with the parameters of the office he now occupies.
Top trade officials from the United States, Canada and Mexico will gather in Washington for the first time on Wednesday to begin hashing out potential changes to the more than 25-year-old trade deal. Negotiators will arrive with pages-long wish lists on a variety of items, ranging from rules of origin to dispute mechanisms, digital trade and currency manipulation.
The Trump administration has laid out an ambitious set of goals and timeline for negotiations that render the path forward a tough one to navigate.
This is what the U.S. hopes to secure in the negotiations:
- Reduce the trade deficit it has with Mexico & Canada
- Incorporate & strengthen labor and environment obligations in the current agreement
- Include a digital economy chapter in the new deal
- Eliminate "unfair" subsidies & "burdensome" restrictions
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