As the next round of negotiations regarding the North American Free Trade Agreement approach, the Office of the U.S. Trade Representative is considering submitting a “sunset” proposal. That’s a provision that would automatically cancel the deal five years after approval if the three countries don’t agree to renew it. The USTR began circulating the idea among federal agencies last week …
NAFTA Renegotiation Could Send Avocado Prices Soaring
Avocado prices have reached a record high and a new North American Free Trade Agreement (NAFTA) could have U.S. consumers paying even more for the fruit. A group of avocado companies recently wrote the U.S. Trade Representative’s Office predicting prices could rise, depending on whether the Trump administration, in renegotiating NAFTA, changes rules on anti-dumping and countervailing duties. The letter …
White House Suspends Discussions on Ending KORUS
White House officials have temporarily halted discussions on the possibility of terminating a free trade agreement with South Korea. A senior White House official told Reuters on Wednesday night that the deal could still be terminated but there were no immediate plans to do so. President Trump had been talking with his senior advisers about the possibility of withdrawing from …
NAFTA Round Two Concludes in Mexico City
Round two of the renegotiation talks regarding the North American Free Trade Agreement (NAFTA) was largely uneventful, according to those included in the talks. While the U.S. is suggesting a deal can be completed by the end of this year, many see the slow progress as an indication of a much longer negotiation process. Mexico’s top agriculture official told Bloomberg, …
Some Speculate Trump May Terminate NAFTA as a Negotiation Tactic
Canada-based Global News reports U.S. President Donald Trump may terminate the North American Free Trade Agreement (NAFTA) to get more from Mexico and Canada during the ongoing renegotiation effort. Round two of the negotiations started Friday in Mexico City, Mexico. Most analysts believe the heated rhetoric is a negotiating tactic – but that doesn’t mean Trump won’t actually start the …
China, India, Call for End of Farm Subsidies by U.S., Others
China and India are calling for an end to farm subsidies by others, including the European Union and the United States. India-based newspaper Live Mint, a collaboration with the Wall Street Journal, reports China and India have jointly proposed the elimination of $160 billion of farm subsidies in the U.S., European Union, and other wealthy nations. The move comes months …
Mexico Won’t Negotiate NAFTA Via Twitter
Mexico declared over the weekend the nation would not negotiate the North American Free Trade Agreement via social media. The announcement followed another post on Twitter by President Donald Trump calling NAFTA the “worst deal ever made.” Trump wrote on Twitter that Canada and Mexico were being “very difficult” and suggested he “may have to terminate” the trade agreement. Many …
NAFTA Nations Sign Non-Disclosure Agreement
The U.S., Canada, and Mexico signed non-disclosure agreements before negotiations of the North American Free Trade Agreement got underway. Officials from Mexico last week confirmed the non-disclosure agreements to Reuters, which reports that the first round of talks this month concluded with signs of deep division on key issues. Per the non-disclosure agreements, each government is barred from distributing texts, …
South Korea Says No to KORUS Talks
Government Officials in South Korea say the U.S. and Korea have not reached an agreement on possible revisions to the U.S.-Korea Trade Agreement, known as KORUS. A South Korea news agency reports that the nation’s top negotiator said there were differences between the U.S. and South Korea regarding the trade deal, but declined to elaborate. A meeting this week between …
Trump NAFTA Comments Worrisome to Agriculture
President Donald Trump told a crowd in Arizona earlier this week regarding the North American Free Trade Agreement talks that “I don’t think we can make a deal,” putting billions of dollars of agricultural exports in jeopardy. However, Reuters says Mexico and Canada dismissed Trump’s threat, describing it as a negotiating tactic designed to gain an advantage during the negotiation …