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Mexico welcomes US NAFTA objectives, eyes stronger North America

Mexico welcomes US NAFTA objectives, eyes stronger North America

"If we integrate further and make Mexico more competitive versus China ... even if our exports rise, U.S.jobs will rise, because when we export (to the United States), they're exporting too (via USA content)", said Jaime Serra, a former trade minister who led the initial NAFTA negotiations for Mexico.

It also plans to eliminate a range of non-tariff barriers to USA agricultural exports to Canada and Mexico.

The USTR will also seek to create a mechanism to deter currency manipulation, according to the document.

Congressman Mike Conaway (R-CD-11) praised the Trump Administration's outline of introducing a tough negotiating strategy when revising the North American Free Trade Agreement (NAFTA) Monday afternoon.

The Trump administration notified Congress in May of plans to renegotiate the regional trade deal.

The USTR said it would seek to strengthen NAFTA's rules of origin to ensure that the pact's benefits do not go to outside countries and to "incentivize" the sourcing of US goods.

Pak Top Court Resumes Hearing Of Panamagate Case Against Nawaz Sharif
The Muttahida Qaumi movement, the Popular Party (PPP), the Muslim-Q League and Jamaat-e-Islami also demand Sharif's resignation. Dubbed #FontGate, the controversy is based on a trust deed submitted by Maryam Sharif to authorities.

Lighthizer said he will seek to eliminate hurdles to United States investment, prevent currency manipulation by Canada and Mexico and forge stronger rules requiring content from North America in manufactured products.

U.S. President Donald Trump shakes hands with Mexico's President Enrique Pena Nieto during the their bilateral meeting at the G20 summit in Hamburg, Germany July 7, 2017.

Negotiations with Canada and Mexico are scheduled to begin on August 16.

USA labor union leaders and Democratic lawmakers weighed in on the issue early, reminding Trump they expect him to keep 2016 election campaign promises to protect American workers in NAFTA talks. It offered no details on such incentives and did not specify how much of a product's components must originate from NAFTA countries. Canada and Mexico have already agreed to upgrade these areas as part of the defunct Trans-Pacific Partnership trade deal.

"I'm looking forward to working closely with the administration to achieve the best deal possible for American agriculture", Conaway stated. Over a decade to 2010, however, the United States lost almost 6 million manufacturing jobs.

Since the NAFTA trade deal was agreed in 1994, the United States trade balance with Mexico has gone from a $1.3 billion surplus to a $64 billion deficit in 2016.


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