NAFTA Update

NAFTA Update

NAFTA Update

Negotiations with Canada to redraw the North American Free Trade Agreement (NAFTA) concluded on Friday, August 31 with no agreement in place due to lingering divisions and President Trump’s unwillingness to offer any concessions. However, earlier this week Mexico and the US came to an agreement regarding two provisions that will impact the automobile industry.   

North American Free Trade Agreement (NAFTA) Update

North American Free Trade Agreement (NAFTA) Update

The renegotiations of the North American Free Trade Agreement (NAFTA) began with a rocky start when President Trump threatened to withdraw from the Agreement unless it was renegotiated on terms more favorable to the United States. The renegotiations began on August 16, 2017, and have proceeded at an unexpectedly slow pace, due in large part to the steel and aluminum tariffs that have overshadowed NAFTA-specific trade issues.