While Mexico hesitates to change the 1994 trade accord, authorities concede that some changes might be required to help keep trade open with the United States, which takes in 80 percent of its exports.
Trump’s executive order to withdrawal the United States from TPP is not what the nation’s largest farm organization wanted, but it was no surprise after President Trump vowed to make that a priority during his campaign. He’s spoken repeatedly about manufacturing, saying that investments in Mexico by USA companies seeking lower labor costs have deprived cities like Detroit and Cleveland of thousands of jobs. The new U.S. president also wants to change NAFTA to create more jobs in America.Uncertainty over NAFTA’s future has already had far-reaching effects on the Canadian economy, from the dollar to the energy sector – and, ultimately, to your personal finances.US President Donald Trump wants NAFTA renegotiated. As NPR’s Carrie Kahn reports, that has left Mexico struggling how to respond to Trump’s threats to rip up the trade deal. Trump talks endlessly and extravagantly of jobs “stolen” by Mexico under NAFTA, and much manufacturing work has migrated from American factories to Mexican ones.Trade figured prominently in Trump’s first full workday at the White House.”There may be some modifications, but basically things should go well for Canada in terms of any discussions with the United States”, said Schwarzman, CEO of the Blackstone Group investment firm. “The president has been really unbelievable”, Trump said.
Adama Barrow to stay in Senegal until ‘coast is clear’
Senegal, which surrounds the much smaller Gambia, has been mandated to use force if necessary by the Ecowas leaders. West African nations had deployed troops to The Gambia, threatening to drive Mr Jammeh out of office by force.
Edward Mermelstein, worldwide real estate lawyer at One & Only Realty Holdings, told Xinhua he believes NAFTA has been bad for the us economy, arguing that the agreement has been “disadvantageous” to the usa economy. Any policy that heavily favors domestic production may end up putting stiff tariffs on imports, which could result in other countries employing their own stiff tariffs on US goods. However, the deal drew fire from left and right in the last US election and now appears dead.It is easy to see, then, why many in organized labor were upset by the deal.Crafting up a new deal would require both Mexico and Canada to agree with whatever changes Trump’s admin proposes.Trump intends to meet with Canada and Mexico leaders on NAFTA.And just today, Mexican President Enrique Peña Nieto canceled an upcoming meeting with President Trump that had been set for next week after renewed tensions over Trump’s plan to build a wall on the border.Other Mexican politicians are calling for Mexico’s outright withdrawal from NAFTA before the USA could make that move first…