WASHINGTON — The Trump Administration's top priorities in seeking to renegotiate the North American Free Trade Agreement (NAFTA) are to reduce the trade deficits with Canada and Mexico and improve market access in those countries for U.S. manufacturing, agriculture and services.
That's the crux of a statement released July 17 by U.S. Trade Representative (USTR) Robert Lighthizer.
"President Trump continues to fulfill his promise to renegotiate NAFTA to get a much better deal for all Americans," Mr. Lighthizer said.
"Too many Americans have been hurt by closed factories, exported jobs, and broken political promises. Under President Trump's leadership, USTR will negotiate a fair deal,…break down trade barriers and give Americans new opportunities to grow their exports…."
Since NAFTA was implemented in 1994, the U.S. bilateral goods trade balance with Mexico has shifted from a $1.3 billion surplus to a $64 billion deficit in 2016, the USTR said. Market access issues have arisen in Canada with respect to dairy, wine, grain and other products — barriers that the current agreement is unequipped to address.