US Trade Rep. Lighthizer: NAFTA is lopsided, needs to be rebalanced
|Following the meeting with his Canadian and Mexican counterparts, the U.S. Trade Representative Robert Lighthizer said that NAFTA was lobsided and needed to be rebalanced.
Key quotes (via Reuters):
- NAFTA has resulted in a huge trade deficit, cost tens of thousands of manufacturing jobs
- We intend to reduce U.S. trade deficits
- Surprised by resistance to change from NAFTA partners
- Thought digital, anticorruption chapters would be finished by now
- No indication that NAFTA partners willing to make changes to reduce U.S. trade deficits
- Trump has been clear that NAFTA must be fair to U.S. workers
- Unreasonable to assume that u.s. will aid companies investing in Mexico and Canada to export to u.s.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.