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ECONOMY > Trade

Ex-USTR official projects difficult NAFTA renegotiations

  • August 17, 2017
  • , Mainichi
  • JMH Summary

Mainichi published an interview with former Acting Deputy USTR Wendy Cutler, who said it will probably be very difficult for the U.S. to conclude NAFTA renegotiations early next year. She urged Japan to pay close attention to whether a renewed NAFTA will incorporate a “currency clause” intended to prevent NAFTA members from engaging in exchange rate manipulation since the Trump administration regards an updated NAFTA as a “standard” for future trade pacts with its partners, including Japan. She said she is not optimistic about the U.S.’s return to the TPP in the near future. 

 

In a related story, Sankei and Tokyo Shimbun said Japanese auto manufacturers are closely monitoring the launch of NAFTA renegotiations on Wednesday out of concern that tightening the rules of origin in the free trade pact could be disruptive and hurt their competitiveness in North America, as they may be forced to conduct a major review of the present networks for the procurement of auto parts primarily based in Mexico.

 

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