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Ambassador Lighthizer comments on NAFTA prior to departing for China. In the auto sector, Mexico and Canada are still arguing for more Asian/Chinese parts for U.S. automobiles. The U.S. position is for higher North American content. Loggerheads.
I still find it stunning how many people cannot see the ridiculous side of the Mexican and Canadian position; and how that showcases the insanity of NAFTA. Can/Mex are not arguing for more Canada and Mexico content, they are holding out for more Asian content. Their economic models are nothing more than brokering the assembly of cheap Asian goods through their NAFTA access to the U.S. market. Ridiculous.
WASHINGTON/MEXICO - CITY - Reuters - US - Trade
WASHINGTON/MEXICO CITY (Reuters) – U.S. Trade Representative Robert Lighthizer said on Tuesday that if a deal to revise the North American Free Trade Agreement cannot be reached with Canada and Mexico in about three weeks, its approval by the U.S. Congress could be in jeopardy.
Lighthizer said at a U.S. Chamber of Commerce event that a deal to update NAFTA was needed quickly because of the lengthy notification process for congressional approval of trade deals.
Deal - Approval - Congress - Ice - Time
If a deal takes too long, he said approval by the current Republican-controlled Congress may be on “thin ice” without sufficient time for a vote before November elections put a new Congress in control in January 2019.
Lighthizer is traveling to Beijing for trade talks with Chinese officials on Thursday and Friday, but will resume intensive negotiations with Canadian Foreign Minister Chrystia Freeland and Mexican Economy Minister Ildefonso Guajardo on May 7.
China - Lighthizer - Comments - Attention - Differences
Regarding China, Lighthizer expanded his comments drawing attention to the inherent differences between a communist “controlled” state policies, and the free market:
WASHINGTON (Reuters) – U.S. President...
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