losangelesnewstoday.com
losangelesnewstoday.com November 18, 2017


NAFTA renegotiation talks will bleed into next year amid 'challenges'

18 October 2017, 12:43 | Katrina Lee

Mexico expects'win-win in NAFTA negotiations central bank

Mexico expects'win-win in NAFTA negotiations central bank

U.S. Trade Representative Robert Lighthizer said on Tuesday he is not focused on terminating the North American Free Trade Agreement and is only trying to negotiate an update that "rebalances" the pact to reduce U.S. trade deficits.

The first key disagreement is over "rules of origin". Currently, vehicles that are manufactured with at least 62.5% of contents from any combination of the three countries can be shipped from one NAFTA nation to another without paying duties. The Trump administration has proposed that at least 50% of the content in cars must be made in the US for vehicles from Mexico and Canada to enter the USA duty-free.

"As hard as this has been, we have seen no indication that our partners are willing to make any changes that will result in a rebalancing and a reduction in these huge trade deficits", he said.

White House: Take Trump's 'Calm Before the Storm' Comments 'Extremely' Seriously
The president was talking about Hispanic Heritage Month when he said he'd just been to "Puerhto Rico " and "Porto Rico ". During the event honouring the Hispanic community for its contributions to the US, Trump said: "You teach our children".

Lighthizer said he had hoped to have cleared chapters on digital trade and telecommunications among others but talks came to a near halt after the US introduced several contentious provisions, including a sunset clause and a rules-of-origin proposal. "As retailers, we strongly urge all parties to preserve the parts of NAFTA that work for American businesses and to avoid proposals that would damage the USA economy and hurt American families". By Monday, Mexico's peso MXN=D2 hit a near five-month low with fears growing about the future of the deal underpinning $1.2 trillion in annual trade between the three countries. However, Mexican Economy Secretary Ildefonso Guajardo told CNNMoney in April that such a proposal wouldn't work for him. Canada and Mexico won't stand for it. But leaders from his ruling Institutional Revolutionary Party are anxious that the end of the deal could provoke nationalist sentiment ahead of next year's presidential election, giving an added boost to far-left front-runner Andres Manuel Lopez Obrader.

"If we do that it's a whole new ballgame going forward and I think there are ways to do that if we have something balanced", he said.

"This is what negotiations are like", Vanessa Rubio, Mexico's deputy finance minister, said on Saturday.



Other News

Trending Now

New iPhone X Wallpaper Shown In Video
This isn't the first time we've seen pictures of the iPhone X being used in public now that the phone isn't a secret anymore. Obviously we all know what an iPhone X looks like but this video is most interesting because of the iPhone X wallpaper shown.

Twitter Is Working On A New Bookmarking Tool, "Save For Later"
To access something you've already saved, you have to navigate away from the main feed and open a section called Bookmarks. Twitter is looking to the community for guidance on the design before it finalizes the bookmarking feature.

Google removes 'Watches' category from its online store
In addition, last month, Google announced that similar to Android Wear 2.0, Version 1.0 will also have standalone apps. You can still access your Assistant by pressing and holding down your home button or by simply saying, 'Ok Google '".

United Nations condemns lack of humanitarian access to Rohingya muslims in Myanmar
The UN has described the government-sanctioned crackdown on Rohingya as "a textbook example of ethnic cleansing". The World Health Organisation also says cholera is also a major risk.

U.S. withdraws from UNESCO
Netanyahu called the U.S. withdrawal "brave and moral", adding that UNESCO, "distorts" history instead of preserving it. The United Nation's education, cultural and scientific agency has passed several resolutions against Israel.

India, Australia teams arrive for city T20 worldwide
Bhuvneshwar Kumar fell shortly after, but Hardik Pandya struck a 23-ball 25 before he was dismissed by Marcus Stoinis. India started well when Jasprit Bumrah got the Australian captain David Warner (2) in the second over of the match.

Police to review Tory security after PM prank
May's speech started with an apology over the snap general election she called in June. Asked to characterise her mood as she came off stage, the source said: "Good".

Angry residents storm police station,kill student who shot dead 5 students
Turkana governor Josphat Nanok said 18 people suffered bullet wounds in the attack. The boy is accused of returning to the dormitories with two accomplices.

Trump claims Obama, other former presidents didn't call families of fallen soldiers
After the interview, a current White House official told NPR that Obama did not call Kelly after his son was killed in action. Wallace said Trump's remarks amounted to "slander" against Obama (along with George W.

Eminem takes down Trump with profane lyrical tirade
After playing the clip in which Trump called the rapper "a victor ", Kimmel added, "Not anymore, I guess". Meanwhile, a 2004 video of Trump endorsing Eminem at a mock political rally is being circulated online.