(David Lawder – Reuters)
The Trump administration on Thursday set the clock ticking toward a mid-August start of renegotiations of the North American Free Trade Agreement with Canada and Mexico to try to win better terms for U.S. workers and manufacturers.
With a letter to U.S. lawmakers, U.S. Trade Representative Robert Lighthizer said he triggered a 90-day consultation period with Congress, industries and the American public that would allow talks over one of the world’s biggest trading blocs to begin by Aug. 16.
Renegotiation of NAFTA was a key campaign promise of U.S. President Donald Trump, who frequently called the 23-year-old trade pact a “disaster” that has drained U.S. factories and well-paid manufacturing jobs to Mexico.
Lighthizer told reporters that NAFTA has been successful for U.S. agriculture, investment services and the energy sector, but not for manufacturing. He added that he hopes to complete negotiations by the end of 2017. Click here to read more.