Trump Administration intention for NAFTA negotiations | KPMG | US

Trump Administration notifies Congress of intention for NAFTA negotiations

Trump Administration intention for NAFTA negotiations

The Trump Administration today sent letters to Congress as notification of its intent to initiate negotiations with Canada and Mexico regarding modernization of the North American Free Trade Agreement (NAFTA).

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A release from the Office of the U.S. Trade Representative (USTR) contained the letters [PDF 1.95 MB] notifying Congress that President Trump intends to renegotiate the NAFTA, and through these negotiations, the United States will seek “to support higher-paying jobs in the United States and to grow the U.S. economy by improving U.S. opportunities to trade with Canada and Mexico.” 

The USTR will publish a notice in the Federal Register requesting public input on the direction, focus, and content of the NAFTA negotiations. 

 

In response to the letters, the Chairman of the House Ways and Means Committee, Kevin Brady (R-TX) said, in part:

There is no question that NAFTA has been tremendously successful for American workers, farmers, and businesses. The United States enjoys a tremendous advantage through our NAFTA supply chain, for example, which allows us to partner with Canada and Mexico to create an integrated production base that improves our competitive edge against China and other competitors. However, it is time to update and improve this 20-year-old agreement to ensure that NAFTA continues to open more markets for American manufactured goods, agricultural products, and services and that it better reflects our needs in the 21st century.

 

For more information, contact a professional with KPMG’s Trade & Customs practice:

Douglas Zuvich | +1 (312) 665-1022 | dzuvich@kpmg.com

Andrew Siciliano | +1 (631) 425-6057 | asiciliano@kpmg.com

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