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7/18, 1:19 AM (Source: TeleTrader.com)
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US releases NAFTA negotiating priorities

The US Trade Representative's office outlined its priorities for renegotiating the NAFTA trade agreement and said it would seek a provision to deter currency manipulation, a move that could set a precedent in a US trade deal.

Trade Representative Robert Lighthizer (pictured) said that the pact should, "through an appropriate mechanism, ensure that the NAFTA countries avoid manipulating exchange rates in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage."

Among the priorities, Lighthizer said the administration would seek to eliminate a trade dispute mechanism that has largely prohibited the United States from pursuing anti-dumping and anti-subsidy cases against Canadian and Mexican firms. It also plans to eliminate a range of non-tariff barriers to US agricultural exports to Canada and Mexico. These include subsidies and unfair pricing structures.

TeleTrader Newsroom / RV