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NAFTA: The Hard Work to Modernize the Agreement Begins Now

Posted August 16, 2017

Under Economic Issues, International Trade Issues

(Thomas J. Donohue via Fox News)

Negotiators from the United States, Mexico, and Canada will begin Wednesday the formal process of modernizing one of the world’s most important trade pacts. By updating the North American Free Trade Agreement (NAFTA), they have the opportunity to spur a new era of growth that promises substantial benefits for American businesses, workers, and consumers.

Trade with Canada and Mexico tops $3.3 billion daily and supports 14 million American jobs. NAFTA also strengthens the United States geopolitically by promoting political and economic stability across our continent, our hemisphere, and throughout the world. The coming negotiations are an opportunity to make the agreement even stronger. But the work will not be easy, and all parties must commit to seizing the big opportunities while avoiding dangerous pitfalls.

Negotiators are starting in the right place by committing to first and foremost do no harm—a principle the U.S. Chamber has insisted should guide any effort to modernize the agreement. With the hard work set to begin, here are a few of the American business community’s specific priorities for the negotiations. Click here to read more.

Related: Rebranding NAFTA (Bloomberg Editiorial Board)