Trump admin. announces plans to renegotiate NAFTA

"Before NAFTA went into effect - by the way, NAFTA, a total disaster - there were 280,000 autoworkers in Michigan", said President Trump at Ypsilanti, Michigan's American Center for Mobility during a visit last March.

Pacheco tells ABC-7 the 23-year contract between the U.S. Mexico and Canada could use some revamping.

However, the Mexican foreign secretary said that the new trade deal must preserve the existing trilateral structure to ensure a fair deal.

"The political debate surrounding the agreement was divisive with proponents arguing that the agreement would help generate thousands of jobs and reduce income disparity in the region, while opponents warned that the agreement would cause huge job losses in the United States as companies moved production to Mexico to lower costs".

In the course the of more than 20 years since its signing, NAFTA has negatively impacted some parts of the country but it has also benefited others.

"NAFTA's track record is one of economic growth and middle-class job creation, both here in Canada and throughout North America", she said in a statement. American wheat imports began surging in Mexico after NAFTA, and Mexico is now the largest buyer of American wheat.

The White House has said it is seeking of winning better terms for United States workers and manufactures by renegotiating the trade agreement.

Lighthizer stressed that NAFTA was negotiated 25 years ago, and while USA economy and businesses have changed considerably over that period, NAFTA has not.

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Wynne also says the province has retained legal experts and trade advisers to support ongoing efforts to improve trade with the U.S.

He added that the agreement was outdated and did not reflect modern standards.

Trade among NAFTA countries exploded.

The National Pork Producers Council is urging the president to make sure that tariffs remain at zero for pork traded throughout North America. It said Trump will start negotiations with Canada and Mexico "as soon as practicable, but no earlier than 90 days from the date of this notice".

"We are committed to concluding these negotiations with timely and substantive results for USA consumers, businesses, farmers, ranchers, and workers, consistent with USA priorities and the negotiating objectives established by the Congress in statute", Lighthizer said in the letter.

US President Donald Trump has formally triggered the renegotiation of the North American Free Trade Agreement (NAFTA).

But the trade measures return him to one of his successful campaign themes, which struck a chord among some voters, who have seen USA companies turn to cheaper, overseas workers for jobs once done at home. Through these negotiations, the United States seeks to support higher-paying jobs in the United States and to grow the US economy by improving USA opportunities to trade with Canada and Mexico. The original negotiations for NAFTA built on a pre-existing trade bilateral deal with Canada that took 20 months to complete, according to the Peterson Institute for International Economics in Washington.

"NAFTA has helped to boost the global competitiveness of the USA auto industry sector and we support modernizing the agreement in ways that will further strengthen North America as a manufacturing powerhouse, stimulate economic growth and drive job creation", American Automotive Policy Council Inc.

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