On Sunday, the head of the US Chamber of Commerce said that the United States, Mexico and Canada are likely to reach an agreement to renegotiate the North American Free Trade Agreement (NAFTA) by the middle of next year.
As we know the future of NAFTA was called into question after Donald Trump became US president in November last year, promising to bring the country from the agreement, if he fails to rewrite some of the conditions for the United States.
However, Tomas Donohyu, President and CEO of the US Chamber of Commerce, said that the local businessmen and officials are increasingly aware of the need to conclude a new agreement and move on.
"We do not intend to delay the negotiations on the deal at all in 2018," - he said Donoghue told Reuters during a visit to Mexico City, where he is expected to meet with politicians and present arguments in favor of free trade.
Trump says that the growth of the manufacturing sector in Mexico after the entry into force of NAFTA cost the US jobs in 1994. Nevertheless, the defenders of the agreement believe that NAFTA has benefited all three countries and made American companies more competitive.
The US government will soon send a letter to the Congress will notify that it intends to begin negotiations on NAFTA after 90 days - the period of notice required under the Fast Track process - so the beginning of the negotiations will now take place not earlier than in August.
According to Donohue, this step should follow in the next few weeks, adding that neither Trump nor the American firms are not interested in, to delay the negotiations on NAFTA, because it is fraught with economic consequences.
On the question of whether it is possible signing of the revised Agreement on the NAFTA to July 2018, Donohue said, "Yes, this is my opinion. The bottom line is that we need to move forward on this transaction, which is essential to our economic prosperity and geopolitical. "
Based on materials WELTRADE
