ross says us pushing for 5year nafta sunset provision
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Ross says US pushing for 5-year NAFTA 'sunset' provision

Arab Today, arab today

Arab Today, arab today Ross says US pushing for 5-year NAFTA 'sunset' provision

US Secretary of Commerce Wilbur Ross
Washington - Arab Today

US Commerce Secretary Wilbur Ross said Thursday that Washington is pushing for a provision to terminate the free trade deal with Canada and Mexico after five years unless the president renews it.

Ross said he and US Trade Representative Robert Lighthizer favor including such a "sunset" clause in the North American Free Trade Agreement (NAFTA), but it remains to be seen if it will be approved during the negotiations now underway.

"It is policy, that's why we put it forward," Ross said, noting that he had floated the idea in columns he wrote during the election campaign.

"Whether it will be agreed is a whole different question," Ross said at a conference hosted by Politico, a Washington newsletter.

While NAFTA already allows any of the three partners to exit the agreement with six months notice, Ross said a sunset provision is a better mechanism because it would require "a systematic re-examination" of any trade agreement.

Original forecasts about the benefits of NAFTA and other trade deals such as the US pact with Korea (KORUS) -- also facing renegotiation at the behest of the Trump administration -- were "wildly optimistic," Ross said.

- Fixing what 'didn't work' -

So a periodic review would provide "a forum for trying to fix things that didn't work out the way you thought they would."

The Trump administration has made clear that its main objective in renegotiating NAFTA and KORUS is to reduce the US trade deficit and protect American jobs from moving offshore.

Trade officials from Washington, Ottawa and Mexico City have held two rounds of talks on the 23-year-old NAFTA so far, and are due for a third round in Canada this month before returning to Washington.

Ross said, as he has before, that the political calendar in all three countries means that chances of reaching a deal will dwindle if talks extend much into next year.

Mexico's presidential election is in July, Canada holds provincial elections next summer, and US midterm elections are in November 2018.

Ross said that trade negotiations and tougher trade enforcement are in the service of his primary objective: to ensure President Donald Trump is elected to a second term.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ross says us pushing for 5year nafta sunset provision ross says us pushing for 5year nafta sunset provision

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ross says us pushing for 5year nafta sunset provision ross says us pushing for 5year nafta sunset provision

 



GMT 06:41 2017 Tuesday ,12 December

'The Shape of Water' leads Golden Globes nominations

GMT 18:57 2016 Friday ,04 November

Historic climate pact enters into force

GMT 15:49 2017 Monday ,27 March

Moroccan Economy to Improve in 2017

GMT 17:30 2017 Saturday ,18 March

Erdogan hits out at Dutch over Srebrenica massacre

GMT 16:40 2012 Wednesday ,16 May

Egyptian actors morph into characters

GMT 23:39 2017 Tuesday ,21 November

Mohamed bin Zayed receives artists participating

GMT 15:28 2017 Monday ,10 April

Bangladesh militants to be hanged soon

GMT 20:40 2017 Tuesday ,11 April

Gunmen storm house of Libyan CB governor

GMT 12:38 2017 Wednesday ,15 November

Bill Gates giving $50 million for Alzheimer's research

GMT 06:03 2015 Thursday ,13 August

NBCUniversal pumps $200m into Vox Media

GMT 08:43 2017 Wednesday ,27 December

Minister discusses electricity, water services with MP

GMT 10:58 2017 Wednesday ,08 November

Al-Azhar's imam meets pope, vows to fight terrorism

GMT 23:43 2017 Wednesday ,04 October

UN: Half a million Rohingya arrive in Bangladesh

GMT 04:40 2017 Thursday ,19 January

Masdar signs agreement with two Qatari power companies

GMT 06:09 2016 Wednesday ,28 September

Households' cash surplus in S.Korea drops on home purchase
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday