Home 5 Ag Stories Trade officials agree to revised NAFTA, yet tariffs remain

Trade officials agree to revised NAFTA, yet tariffs remain

Source: Wikipedia

The United States, Mexico and Canada recently shook hands on a revised North American Free Trade Agreement (NAFTA).

Under Secretary for Trade and Foreign Agricultural Affairs Ted McKinney says the updated agreement, now called the U.S.-Mexico-Canada Agreement (USMCA), is a “positive one for agriculture.” However, Canada and Mexico were left wanting more.

President Donald Trump has yet to lift steel and aluminum tariffs placed on Canada and Mexico. Both countries are asking President Trump to remove the tariffs, now that a framework has been put in place.

Canada has asked for the tariffs to be removed “as soon as possible, while Mexico’s top negotiator urges the country not sign the agreement until the tariffs have been lifted, according to Politico.

U.S. Secretary of Agriculture Sonny Perdue previously called on the President to eliminate the barriers. Secretary Perdue was quoted saying, “I think it’s time we go back to our previous relationship, which had no tariffs on steel and aluminum.” Perdue fears the benefits of the agreement will be limited until the tariffs are removed.