President Trump is back on Twitter, this time regarding NAFTA renegotiation.
Earlier this week, the President tweeted, ?We are in the NAFTA, worst trade deal ever made, renegotiation process with Mexico and Canada. Both (are) being very difficult. May have to terminate??
The tweet raised concern as American agriculture has benefitted from opening borders with Canada and Mexico. Senator Grassley encouraged others not to worry about Trump?s tweet.
?At this point, I think the President is posturing to put pressure on Mexico and Canada,? Grassley said. ?There?s no way he could reach a decision now. At this point, it?s posturing on the President?s part, which is probably a good strategy early in the debate. You?re going to get the same posturing from Mexico and Canada. Serious negotiations haven?t started yet, and I would wait till we get a few weeks into the serious negotiations before drawing conclusions about what the President says about it.?
Senator Grassley said the United States needs to work on reaching an agreement with Great Britain and then Japan following NAFTA renegotiation.
In other trade news, Senator Grassley provided comment on the Department of Commerce?s preliminary decision regarding the investigation of biodiesel imports from Argentina and Indonesia. Grassley said the decision reiterates the inability for other countries to compete with high subsidies, especially when it comes to commodities.
?This action affirms what Senator Capwell and I have been arguing about for years; United States taxes for biodiesel should not be available to highly subsidized biodiesel imports from Argentina and Indonesia,? Grassley said.
Senator Grassley made note of a bill authored by the him and Senator Capwell which would ensure the biodiesel credit supports the domestic industry rather than imports. The two senators would ensure the support by converting the blenders credit to a producers credit.
