USA, Canada and Mexico began talks on free trade

США, Канада и Мексика начали переговоры о свободной торговле

Trump argues that NAFTA is not in the interests of most Americans.

USA, Canada and Mexico began on Wednesday, August 16, in Washington negotiations on the reform of the world’s largest free trade area (NAFTA). At the talks, insisted the American President Donald trump, according to which NAFTA affects the economy of his country.

“We believe that for most Americans, the NAFTA Treaty is fundamentally unprofitable, and we need substantial improvement,” said Commissioner of the trump trade issues Robert Leitheiser, who heads the U.S. delegation at the talks. He stressed that first and foremost you need to seek the elimination of the giant trade deficit with Mexico.

Because of NAFTA the U.S. auto industry moved many factories to Mexico, resulting in the United States had lost hundreds of thousands of jobs. Only in the field of automotive industry, the deficit of U.S. trade with Mexico is 68 billion dollars.

The free trade agreement NAFTA was finalized in 1992 and entered into force in 1994. On the territory of a NAFTA accounts for 25% of global GDP. Since the Treaty entered into force, the volume of trade between the U.S., Canada and Mexico has quadrupled.

It is expected that the current negotiations will last until early 2018. The second round of the dialogue will be held in Mexico.

We will remind, during election campaign Donald trump promised to terminate the agreement NAFTA. He said that “this is the worst trade deal ever concluded” Washington.