Today, the U.S. administration triggered the renegotiation of the North American free trade agreement. We’ve been waiting for this and we’re ready. NAFTA has been a positive agreement for all three countries involved but it is over 22 years old. A number of improvements can be made, and we look forward to working with the Canadian government to get a better, modern deal for Canadian businesses.
We intend to focus on digital trade, e-commerce, worker mobility and regulatory cooperation as the main areas of improvement for a new NAFTA. This agreement was negotiated nearly 25 years ago, and the economies of all three countries have changed considerably in that time. Many of the changes that we want to see in this document will also benefit businesses in the U.S. and Mexico, which is why we think we can end up with a better agreement for Canadians.
"President Trump and his administration are talking tough, but we have to remember that when the Americans entered into this agreement 22 years ago, it wasn’t charity. It’s because it was a positive agreement for their economy. And when they sit down at the table and start looking at this deal section by section, region by region, they will soon see that that is still the case,” said our President and CEO, Perrin Beatty.
By informing Congress that President Trump intends to renegotiate NAFTA, United States Trade Representative Robert Lighthizer has kicked off a 90-day preparatory process that will lead to official talks starting in mid-August. We will continue to use the time we have before official talks start to raise awareness among U.S. lawmakers of just how intertwined our economies are. Properly done, this negotiation will create the most modern, inclusive and strong economic block in the world, one that will benefit the economies of all three countries involved. If it is poorly done, everybody loses.