Mexico reaches out to Business Community for Comments on NAFTA Renegotiation

President Pena Nieto began a 90 day consultation period from the business community in regards to comments on NAFTA renegotiations.  The 90 day period began on February 3, 2017.  The Mexican president wants insight from local businesses in regards to making possible changes to the North American Free Trade Agreement, a 23 year old document, that could use some polishing.

Mexico says it is willing to negotiate changes with both USA and Canada, but doesn’t want to accept any new tariff barriers or import quotas.  According to press reports, Mexico is expecting formal negotiations with Canada and US to get underway in May.

Sandler, Travis and Rosenberg states, “Under the United States’ existing trade promotion authority law, the president would have to notify Congress at least 90 days before initiating negotiations aimed at changing NAFTA.”

While there is some speculation that President Trump might have submitted such a notification on Feb. 6 there was no official confirmation at press time. Trump has been quoted as saying he would like to accelerate the 90-day timeline, but senior leaders of the House Ways and Means and Senate Finance committees who met with Trump at the White House recently to discuss trade topics said that is unlikely to happen.

“It also remains unclear what changes might be sought in a NAFTA renegotiation. Trump recently said he wants to make sure the agreement is “not just free trade” but “free and fair trade” and indicated that this could be accomplished by revising the existing deal or negotiating a new one.” [Source]


Sandler, Travis & Rosenberg Trade Report.