The United States has officially indicated its desire to renegotiate the 1993 North American Free Trade Agreement, triggering a 90-day consultation window before formal talks begin.
The clock was set ticking today in a letter from U.S. Trade Rep. Robert Lighthizer. Commerce Secretary Wilbur Ross says he is putting Congress and trading partners on notice that “free and fair” trade is the new standard in the U.S.:
“With this letter, we intend to notify not just Congress, but all our trading partners, that free and fair trade is the new standard for U.S. trade deals.”
The National Potato Council (NPC) applauded the Trump Administration’s announcement to renegotiate the North American Free Trade Agreement (NAFTA).
John Keeling, Executive Vice President and CEO of NPC:
“We believe today’s action signals the beginning of a strong trade agenda for U.S. exporters.”
“In addition to improvements with Mexico and Canada, the potato industry looks forward to Administration efforts to gain increased access in China, Japan, Vietnam and other valuable overseas markets.”
Last month, NPC provided a letter to the President that offered guidance on how to improve the two decade old NAFTA to the benefit of the potato industry.
Canada and Mexico are the second and third largest export markets for the U.S. potato industry, with a combined value of over $500 million annually.
NPC anticipates that the market could grow to an additional $500 million under an improved agreement.
source: potatopro.com