A series of public hearings next week on the renegotiation of the North American Free Trade Agreement seeks comments on the efforts. The U.S. is scheduled to post its NAFTA renegotiation goals July 17, following the meetings. U.S. Trade Representative Robert Lighthizer told the Senate Finance Committee Wednesday that while the negotiations will then begin August 16, there is no deadline to complete the negotiation process. However, the administration does want the talks to move quickly.
Lighthizer says he is prepared to continue to negotiate until a “high standard agreement” is reached unless there is a total stalemate, in which case Lighthizer says he will consult with lawmakers on the next steps forward. Ron Wyden, the ranking Democrat on the Senate Finance Committee, urged the U.S. to take the time it needs to hammer out new trade terms. Wyden says, “NAFTA could use a complete overhaul” and added that the overhaul should include issues like labor, currency manipulation, and industry specific issues regarding dairy and wine.
Source: NAFB News Service