U.S., Mexico reach preliminary deal to replace NAFTA
The United States and Mexico have announced preliminary plans to change parts of the North American Free Trade Agreement. The new agreement, called the United States-Mexico Trade Agreement, does not involve Canada, but the country could be included at a later date.
CNN reports that U.S. Trade Representative Robert Lighthizer said the agreement was "absolutely terrific" and would modernize a trade deal that had "gotten seriously out of whack." He said he hoped Congress would approve it with broad bipartisan support.
The U.S. has been involved in trade disputes between Canada and Mexico ever since it placed tariffs on steel and aluminum. The other two countries then placed tariffs on American exports, impacting agricultural products like pork. Representatives of the industry praised the progress yesterday.
The National Turkey Federation released a statement that read, “NTF applauds the progress announced today on a trade deal with Mexico. Stabilizing the trade relationship with the turkey industry’s largest export customer is of vital importance to our members. NTF is also encouraged by the reported agreement to strengthen disciplines for science-based SPS (sanitary and phytosanitary) measures, which has long been sought by the turkey industry. Mexico and the U.S. poultry industry have a long, robust history of trade. We look forward to continuing to build this partnership.”
Source: CNN, NTF