Prospects for NAFTA Renegotiation
Eyes around the world will be watching as the new Administration takes its first stab at trade negotiations with the renegotiation of the 23-year old North American Free Trade Agreement (NAFTA). It was easy to withdraw from the Trans Pacific Partnership (TPP) but it surely will be more difficult to renegotiate NAFTA, an agreement around which substantial business operations have been built. President Trump came close to withdrawing from the Agreement, as reflected by a leaked draft Executive Order, but instead told his Canadian and Mexican counterparts that he wouldn't withdraw at this time. There was also the leaked draft notice to Congress on NAFTA renegotiation, which looked a lot like TPP. Commerce Secretary Ross says that the anxiety over trade will subside once NAFTA is done the right way. Secretary Ross has mentioned coverage of services, rules of origin, digital trade and dispute settlement as issues to be addressed in a new NAFTA. Meanwhile, Mexico has been consulting with its own private sector and preparing for the renegotiations for quite some time. They have an experienced team and will be formidable negotiators, as will be the case with Canada. The Trump Administration seems to be aiming for a quick renegotiation but Mexico has its own presidential elections in July 2018, which promise to complicate things.
Hear from Alejandro Garcia Seimandi, a Mexican customs lawyer Garcia Seimandi, Flores & Villeda, and Evelyn M. Suarez, a U.S. customs lawyer, founder and principal of The Suarez Firm and President of the Association of Women in International Trade (WIIT) about the prospects for NAFTA renegotiation. They will discuss:
· The process for renegotiation in Mexico and the U.S.
· What has worked for companies under the current Agreement?
· What improvements can be made?
· How much room is there to make changes and what is likely to change?
· And what does this all mean for customs enforcement of the existing NAFTA in this new age of trade policy and customs enforcement of the Trump Administration?
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