Nothing New on NAFTA as Trump Extends Tariff Exemptions

Dan Industry News Release, Trade

Agriculture Secretary Sonny Perdue this week said no news should be expected this week regarding the North American Free Trade Agreement (NAFTA). That’s because Trade Representative Robert Lighthizer is traveling to China, according to the Hagstrom report.

naftaThe comments came as President Donald Trump had extended tariff exemption for another 30 days to Canada and Mexico as a permanent exemption is expected as part of NAFTA. In a statement, the White House said the administration is “focused on quotas that will restrain imports, prevent trans-shipment, and protect national security” in trade negotiations with the EU and NAFTA members.

However, Perdue told reporters earlier this week that the European Union “has played hardball” over the steel and aluminum tariffs the United States has threatened to impose.

Trump also granted an exemption to South Korea as part of the revised Korea-U.S. Free Trade Agreement, known as KORUS.

From the National Association of Farm Broadcasting News Service.