In order to begin the process of renegotiating the North American Free Trade Agreement (NAFTA), a draft letter was submitted by the Trump administration to the U.S. Congress outlining their trade policy priorities on March 30, 2017. Congress will be involved with the revisions to this list which will be followed by formal notice by the administration that there is a desire to renegotiate the agreement. Following this formal notice, a minimum of 90 days is required for consultations and would likely result in talks with the three NAFTA partners beginning in the summer or fall.
The letter includes mentions of various facets of NAFTA ranging from agricultural opportunities, rules of origin in order to promote US jobs and production, public procurement, telecommunications access and the elimination of Chapter 19’s countervailing and anti-dumping provisions.
As more information becomes available, updates about how your business could be impacted will be provided. Buckland is pleased to share this update and we hope that this information will be useful and beneficial. As a customer-focused company, we provide you with a single source of unmatched Customs Brokerage (Canadian, US, Mexican), Trade Managed Solutions, Freight Forwarding, Trade Technologies and Warehousing/Distribution Services. If you have questions, reach out to Buckland today.