Trump wants new NAFTA deal to cut trade deficit with Mexico

[Julian Englis]

Source: AP

WASHINGTON (AP) — President Donald Trump vowed Monday to boost U.S. manufacturing by cutting the $64 billion trade deficit with Mexico as he showcased products made in all 50 states — everything from a fire truck to a baseball bat.

“No longer are we going to allow other countries to break the rules, to steal our jobs and drain our wealth,” Trump said at a White House event that spilled from the East Room to the South Lawn.

Shortly after Trump’s remarks, the U.S. trade representative released an 18-page report about its goals for updating the decades-old North American Free Trade Agreement with Canada and Mexico. In addition to reducing the trade deficit, the administration wants to insert a chapter on the digital economy into the deal. It also wants to strengthen labor and environmental obligations, as well as amending the rules of origin so that more of the products traded come from the United States and North America.

Facing an investigation into his campaign’s ties with Russia and a tax and health care agenda struggling to make headway as quickly as promised, Trump is turning his focus to trade this week. Administration officials are to meet Wednesday with economic officials from China, a nation the president has accused of dumping steel on the global market to hurt U.S. steelmakers. The White House emphasis on trade follows a string of other recent theme weeks on energy, job-training and infrastructure that mostly failed to draw much attention away from the Russia inquiry.

Read more: https://apnews.com/88ac754fe18d496a9e15bcb220137e90/Trump-wants-new-NAFTA-deal-to-cut-trade-deficit-with-Mexico

[bucolic_frolic]

1. This is absolute nonsense

Capitalists went to those countries for cheap, eager labor.

We might produce some raw materials, but those factories are not moving from where they are.

And workers are just waiting in line for the $7 per hour manufacturing jobs in small cities.

[TexasBushwhacker]

2. And Mexico doesn't have the labor laws

and pesky environmental regulations. Besides, part of the reason for the deficit is the strength of the dollar vs the peso. NAFTA caused a net benefit to the US.The jobs created in Mexico increased their middle class and the demand for American goods.

[cstanleytech]

3. Would a better deal be one that gets mexico to bring up their safety and

environmental regulations then?