Renegotiating NAFTA

Over the past six weeks, The United States, Canada, and Mexico, the three countries apart of NAFTA, have come together to renegotiate the terms of the North American Free Trade Agreement. Although in the current state of the negotiation all teams refuse to release too much information which could potentially weaken their position in the deal, there are a few public statements that were released about the progress and goals. The publicized key terms that are being renegotiated include: modernizing the trade pact, invigorating American manufacturing, settling trade disputes, protecting workers, and  a clause in which would terminate the agreement after five years unless all three countries voted to continue it.

Many people have different visions of what the renegotiated NAFTA deal will look like, and it starts with whether or not they should scrap it and start fresh or just modify and modernize the trade pact. Much of the modernization of the trade pact include setting new regulations on digital trade and making sure regulations are up to date. One of the main accomplishments for the three countries is to modernize regulations over small businesses. The goal of this measure is to help small-business owners achieve access to each others' market and set up trilateral communication. Further information about the modernization of the deal can be seen and read HERE.

When renegotiating NAFTA, reinvigorating American manufacturing is one of the biggest goals. Doing so will help create more jobs for virtually everyone part of the trade deal. The United States have talked about raising the rules of origin. This means increasing the level of a good that must be produced in North America in order to qualify for zero tariffs. Like previously stated, the terms and agreements to the new contract is still being negotiated and provisions are still being made. You can find more information about invigorating American manufacturing HERE.

HERE is a well written article that explains more about the publicized terms that are being renegotiated in the NAFTA agreement.

Source:

Swanson, Ana. "How the Trump Administration Is Doing Renegotiating Nafta." The New York Times, 28 Sept. 2017, ...https://www.nytimes.com/2017/09/28/business/how-the-trump-administration-is-doing-renegotiating-nafta.html. ...Accessed 3 Oct. 2017.