According to Forbes.com, given President Donald Trump’s unorthodox approach to trade and his inflammatory rhetoric, it was never going to be easy to renegotiate the North American Free Trade Agreement. And the President’s unswerving commitment to new tariffs on steel and aluminum has cost him his top economic adviser and threatens a global trade war.
So what happens if you take these two troublesome policies and link them together? About what you would expect: each difficult situation gets significantly worse.
The NAFTA negotiations were already operating on an unrealistic timeline. Trade negotiations are no longer just about the level of tariffs that participating countries will set. They include a broad range of issues, from health regulation to investment rules. Even when there are no particularly acute disagreements, the negotiations can take years. As but one example, the U.S. involvement in the Trans-Pacific Partnership (TPP) talks stretched from the fall of 2008 until talks concluded in October of 2015.
That meant that the NAFTA renegotiation talks were always going to be rushed. Mexico has elections coming up this summer and the Mexicans were clear from the start that it would be politically difficult to conduct negotiations as those elections drew close. The initial target was to conclude the talks by the end of calendar 2017. That got pushed back when no agreement was reached.
more recommended stories
Teacher Leaders Present an Innovative Blueprint for Relevant Learning in the Age of AI
What does the fourth industrial revolution.
New technology used in Yucatán to find people lost at sea
As part of a third aspect.
“Pet uh” Civil Association aims to promote Peto, Yucatán
PETO.- In the coming weeks the.
Mexico overtakes Brazil as the largest automobile producer in Latin America
Mexico registered a new record in.
CICY Biofactory strengthens plant-multiplication technologies
With the aim of transferring the.
IYEM looking for entrepreneurs willing to form serious companies in Yucatan
Government and businessmen seek to continue.
Yucatán; the state with the lowest number of high-impact crimes in Mexico
The National Public Security System released.
Miami pedestrian bridge collapses, killing at least six people
A recently built, 950-ton pedestrian bridge.
Oil workers are being recruited to work in Campeche
The National Employment Service (SNE) in.
Endemic fruit trees will be promoted and planted in Cholul
With the objective of planting and.