tiptrot.com July 17, 2018

US Proposes Limited Lifespan of Future Trade Deals During NAFTA Talks

14 October 2017, 12:14 | Bernice Figueroa

US Proposes Limited Lifespan of Future Trade Deals During NAFTA Talks

USA Trump and Trudeau at the White House | NAFTA

The U.S. Chamber of Commerce has listed the U.S. auto industry demand among a number of "poison pill" proposals that it said would torpedo the talks to renew NAFTA.

His remarks and the tension around NAFTA helped push the peso down 1 percent against the USA dollar to a five-month low.

"There is scope in the negotiation of the agreement for a consensus that benefits the three countries", he said.

His administration has land-mined the renegotiation he triggered with controversial proposals, including tightening the "rules of origin" to demand certain amounts of American-made content in products, scrapping NAFTA's dispute resolution mechanism and the "sunset clause".

A spokeswoman for the U.S. Trade Representative's office declined to comment on the autos proposal. Trade among the three countries has more than quadrupled since 1994 to over $1.2 trillion annually.

The Trump administration continues efforts to improve the United States' trade deals as NAFTA talks are ongoing.

Canada and the US have different views on the dairy industry.

The head of Unifor, Canada's largest private sector labor union, said it was clear the United States did not want a deal.

Despite clear signs of impatience from Canada in particular, US negotiators have yet to submit their proposal on rules of origin for the auto sector.

But Trudeau said Canada does have Mexico's support when it comes to introducing a gender chapter into the trade pact.

Prime Minister Trudeau began his visit by laying a wreath at the Altar of the Nation, to honour the Niños Héroes (child heroes) who sacrificed their lives in a heroic struggle against foreign forces.

Trump has made no secret that he prefers bilateral trade deals, and skeptics wonder whether the USA demands are part of an "America First" strategy created to ensure the current talks fail.

On automotive rules of origin, NAFTA negotiators face tough new USA demands to increase regional vehicle content to 85 percent from 62.5 percent, with 50 percent required from the United States, according to people briefed on the plan.

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