USA, Canada and Mexico began the renegotiation of the FTA

Representatives of the United States, Canada and Mexico began on Wednesday, August 16, in Washington negotiations on the revision of the North American agreement on free trade (NAFTA).

To view the document, which regulates trade relations between the three countries within the free trade zone, insisted Washington.

Videobrain and the UK can create a free trade zone

TSN. 19:30

July 5, 20:22

“We believe that for most Americans, the NAFTA Treaty is fundamentally unprofitable, and we need substantial improvement,” said U.S. trade representative Robert Lighthizer, quoted by the dpa news Agency. According to him, it is necessary, in particular, to eliminate the deficit in foreign trade of United States with Mexico.

the existing free trade agreement, many American auto companies moved production to Mexico, which led to a loss in the U.S. hundreds of thousands of jobs.

In the field of automotive industry, the deficit of U.S. trade with Mexico is $ 68 billion. The President of the United States Donald trump during his election campaign repeatedly called NAFTA “a disaster.”

First, trump insisted on the withdrawal of the U.S. from the FTA, but then changed his mind.

The free trade agreement NAFTA was agreed in 1992 and entered into force in early 1994.

On the territory of the NAFTA countries account for 25 percent of global GDP.

Since the entry into force of the agreement, the volume of trade between the U.S., Canada and Mexico has quadrupled.

It is expected that the current negotiations will last until early 2018.

The second round should be held in Mexico.

August 1, entered into force the agreement on free trade zone between Ukraine and Canada.

Free trade area involves the removal of trade restrictions and the abolition of trade duties on main groups of goods within the grace period of 3-7 years. In particular, immediately after the entry into force of the document to lift the duties on fish, cereals, wine, juices, baked goods and clothing, metal products, hardware and electrical engineering. Within 3-7 years will cancel the duty on certain agricultural products, construction materials, engineering products, including components for aircraft, automobiles and tractors.

We will remind, the agreement was signed July 11, 2016 during his visit to Ukraine, the Prime Minister of Canada Justin Trudeau. During the year the document was agreed by the parliaments of other countries vedomctva.

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