losangelesnewstoday.com
losangelesnewstoday.com November 18, 2017


Canada foreign minister says NAFTA talks extension is good news

19 October 2017, 12:40 | Katrina Lee

Lighthizer: 'Historic' NAFTA 2.0 could win labor and business support, lead to 'paradigm change' in Congress

Spotlight: NAFTA parties to extend trade talks into Q1 2018 with

President Donald Trump's musings about ending the accord have sparked public warnings from USA lawmakers and the private sector about the perils of dismantling a decades-long trade deal that has helped the region's trade balloon to $1.2 trillion annually.

The Congressional Research Service says in a report issued last week that there is no clear path for Trump to reduce the USA trade deficit with Mexico, one of his major complaints and an overarching priority for revamping a pact he has repeatedly threatened to tear up. "To that end, the parties plan on having a longer inter-sessional period before the next negotiating round to assess all proposals", US Trade Representative Robert Lightizer told reporters on Tuesday while reading from a joint statement.

To cut the trade deficit with Mexico, the United States is demanding that more auto production be made in America before qualifying for NAFTA benefits.

The fifth round will be held in Mexico from November 17-21.

Lightizer was joined by the leaders of the other two delegations, Mexican Economy Secretary Ildefonso Guajardo and Canadian Foreign Minister Chrystia Freeland.

The Retail Industry Leaders Association, which encompasses more than 200 retailers, manufacturers and suppliers, added that Nafta's downfall would incur "massive" disruptions in agriculture and manufacturing as well as higher costs for USA consumers.

Lighthizer said he is unsympathetic to the business community's complaints about ending the dispute settlement process that is in NAFTA and about the proposal to include a five-year sunset clause.

Houses Opposite Bimal Gurung's Deserted Home in Darjeeling Destroyed In Fire
The police recovered 6 AK 47 and some nine mm pistol and around 500 rounds of cartridges from the spot. West Bengal Tourism Minister Gautam Deb, too, told reporters, "The area is Gurung's stronghold".

"We have seen no indication that our partners are willing to make any changes that will result in a rebalancing". That situation, he said, has resulted in the large USA trade deficit with Mexico. We of course have a $500 billion trade deficit.

But companies have built complicated supply chains that straddle NAFTA borders, taking advantage of each country's strengths - such as cheap labor in Mexico and skilled workers and proximity to customers in the United States and Canada.

"Proposed new USA national content requirements would severely disrupt the supply chains, make North American producers and manufactures less competitive relative to imports from outside the region and put in jeopardy tens of thousands of jobs across North America", Freeland said.

Lighthizer did not provide any details on what the United States has proposed on agriculture, but he did say at one point that agriculture is always a hard part of trade negotiations due to both economic and social issues.

"The United States shares strong economic ties with Mexico and Canada".

The outcome could also damage the North American security relationship, straining cooperation to combat money laundering, terrorism, the drug trade and undocumented migrants coming through Central America, the report said.

"The tradeoff is: either we improve NAFTA or we trade with new rules, those of the World Trade Organization (WTO), but trade with the United States will continue (either way)", Peña Nieto said.



Other News

Trending Now

Porn publisher offers $10m for information leading to Trump's impeachment
Larry Flynt's ad in the Sunday edition of The Washington Post is hard to miss. Bob Livingston (R) and former Louisiana Sen.

NAFTA renegotiation talks will bleed into next year amid 'challenges'
However, Mexican Economy Secretary Ildefonso Guajardo told CNNMoney in April that such a proposal wouldn't work for him. The first key disagreement is over "rules of origin".

Trump escalates feud with Corker
The feud that erupted between President Trump and Senator Bob Corker (R-Tenn.) has confused numerous political veterans in Washington.

Windows 10 Fall Creators Update Released
If Fall Creators Update is installed, your Version number will be 1709 and your Build number will be 16299.19 as shown below. The latest update delivers security improvements by taking ransomware head on in the Windows Defender Security Center.

Las Vegas shooter also considered Boston and Chicago
Clark County Sheriff Joe Lombardo told reporters that Paddock had used Airbnb to book a room at The Ogden . One side of the hotel faces Grant Park, an expansive space where the Lollapalooza festival was held.

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.

Melania Trump filling out her agenda as first lady
When asked about her current situation, the first wife of President Donald Trump , Ivana Trump said , "I have a flawless life". The true first lady responded with a sharply-worded statement to CNN from her communications director, Stephanie Grisham.

Arizona Diamondbacks at Los Angeles Dodgers Game 3 score, TV channel
The Dodgers lead 2-0 and can eliminate the Diamondbacks when the National League Division Series moves to Phoenix on Monday. The Diamondbacks put only one runner on base in those four innings and managed to get only two balls out of the infield.

Trump brings NBC's 'license' into question after nuclear arsenal report
Two-thirds of them say President Donald Trump's war of words with the isolated nation's leader is making the situation worse. USA news reports have painted the relationship between Mr Trump and Mr Tillerson as tense.

Feinstein's Reelection Bid Faces Opposition From the Left
California's increasingly progressive political environment has left more "moderate" Democratic candidates on the defense. For instance, former California Sen.