Articles Tagged with ''nafta''

U.S. and Canadian negotiators have reached an eleventh-hour agreement assuring Canada will be part of the renegotiated North American trade pact that is to be renamed the United States, Mexico, Canada Agreement. As part of the deal, Canada agreed to eliminate its controversial Class 7 dairy pricing program.

The Trump administration remains adamant that Canada shut down its Class 7 milk pricing program as part of an overall deal to rewrite the North American Free Trade Agreement, USDA Secretary Sonny Perdue told reporters today.

The agriculture industry in the U.S. is dealing with a lot of uncertainty.

NAFTA talks between the U.S. and Canada broke off Friday afternoon with no agreement on how the 24-year-old trade pact will be structured in the future, and whether a revised agreement will include Canada at all, or just be a bilateral pact with Mexico. The U.S. said the talks will continue Wednesday.

There’s plenty for the U.S. agricultural sector to like in the U.S.-Mexico deal announced today, but the biggest win for farmers and ranchers is the agreement to continue the arrangement of zero tariffs on farm goods between the two neighboring countries.

President Donald Trump says the U.S. and Mexico have resolved several key obstacles to a renegotiated NAFTA – with a different name – while suggesting that Canada may be left out of a final agreement.

The U.S.-China trade war could drag on for years, but a U.S. agreement with Mexico on rewriting the North American Free Trade Agreement could happen as soon as August, U.S. Trade Representative Robert Lighthizer said today in a Senate hearing.

Republican and Democratic senators let loose Wednesday with scathing criticism for President Donald Trump’s escalating tariffs and tariff threats that are attracting retaliation from around the globe. Commerce Secretary Wilbur Ross tried to defend the tariffs at a Senate hearing, but most of the lawmakers appeared not to be swayed.