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5/17/2017, 6:59 PM (Source: TeleTrader)
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US reportedly mulls FX clause for NAFTA tweak

The administration of President Donald Trump is examining the possibility to urge Canada and Mexico to agree to the incorporation of rules against currency manipulation in the North American Free Trade Agreement, as part of overhauling the deal, the Wall Street Journal reported on Wednesday. The media outlet's unnamed sources among congressional aides revealed the United States Trade Representative Robert Lighthizer has told senators about the plans at a meeting at Capitol Hill earlier in the day.

The proposal was reportedly confirmed by a government official familiar with the matter, though the person declined to say whether the potential clause is seen for implementation in dispute mechanisms within NAFTA. The introduction of foreign exchange rules wasn't in the renegotiation platform as of March, the article adds. Regulations against currency manipulation are also considered for talks with other trade partners, particularly in Asia, the report adds.

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