Just 4 days to get a Nafta deal negotiated?

May 11, 2018 – As reported in today’s Wall Street Journal (WSJ), Speaker Paul Ryan must have Nafta paperwork no later than May 17th to have time to consider the deal in the House this year.

NAFTA Flags

So what’s holding it up? The USTR is working with Mexico to get an agreement on auto rules. The US is pushing for 40% of a car and 45% of a light truck to be produced in Mexico for $16/hour to avoid US tariffs. That’s double what they make now.

Aside from vehicles, issues remaining to be resolved include intellectual property issues and the dispute settlement resolution that the US opposes.

Not all Republican congressional delegates are in line to approve, with Senator Pat Toomey (R-PA) among the foremost, who writes in today’s WSJ Op-ed that he will oppose any deal that diminishes free trade and results in the Administration unilaterally withdrawing from Nafta.

Comments are closed.