Friday, September 15, 2017

U.S. wants five-year NAFTA terms

The United States wants the North American Free Trade Agreement to come up for regular reviews every five years.

U.S. Commerce Secretary Wilbur Ross said Thursday that the U.S. has made that part of the negotiations which resume Sept. 23-27 in Ottawa.

Ross told a forum hosted by Politico that both he and U.S. Trade Representative Robert Lighthizer had agreed on the need for such a sunset provision for quite a while and would “put it forward” in the NAFTA modernization talks, but it was unclear whether Canada and Mexico would back it.

This is a foolish idea since it would make matters uncertain for businesses and curb their investments that depend on continued exports.