Search
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.


Nafta redo tops Commerce to-do list, Ross pledges

Mar 31, 2017 | 07:00 PM | AMM staff


Reworking the North American Free Trade Agreement (Nafta) will be a top priority for the U.S. Commerce Department under the Trump administration, Commerce Secretary Wilbur Ross pledged.

“To start with, we will be involved with rebalancing a global trade system that has gutted American manufacturing and left families across America without work and without hope,” Ross pledged in brief comments before Commerce employees on March 1 in Washington.

“We will play a major role in renegotiating bad trade deals, like Nafta, as the administration seeks to institute a system of both free and fair trade,” he stressed. Ross blamed Nafta for the loss of “more than a quarter” of U.S. manufacturing jobs.

The United States has run “massive” trade deficits with its Nafta trading partners—Canada and Mexico—for years, according to a leaked copy of the 2017 U.S. national trade policy agenda posted online by the Financial Times. The U.S.’ combined trade deficit with Canada and Mexico stood at $74 billion in 2016 alone, the document indicated.



Latest Pricing Trends Year Over Year

Poll

Will the recently passed federal tax reform lead to your business changing capital spending?

We will increase our spending
We will decrease our spending
We will not change our spending
Not sure


View previous results