President Trump & GOP Offer Several Options To Move Forward With NAFTA - FbiCables Network | The News that Shapes World Opinion

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Tuesday, March 06, 2018

President Trump & GOP Offer Several Options To Move Forward With NAFTA

GOP lawmakers are coming to the table to discuss moving forward on NAFTA negotiations.
The administration is proposing solutions to rein in U.S. exports in hope to lessen the $500 billion trade deficit, which has risen to its highest level in nine years.
The move is only one of several options proposed by Republicans to address the debt, all of which revolve around reaching a fair deal on NAFTA
U.S. trade Representative Robert Lighthizer has repeatedly blasted the agreement. He says it incentivizes domestic businesses to outsource for cheaper labor, leaving them reluctant to negotiate on the issue.
U.S. Trade Representative Robert Lighthizer speaks during a news conference at the start of NAFTA renegotiations in Washington. (Jacquelyn Martin/AP/Photo)
“Our president has been clear about our second objective — NAFTA has resulted in a huge trade deficit for the United States and has cost us tens of thousands of manufacturer’s jobs…the agreement has become very lop-sided and needs to be rebalanced,” stated Lighthizer.
The president has also recently proposed instating reciprocal taxes, which would match tax on exported goods to the taxes placed on U.S. imports by foreign markets.
Additionally, the Trump administration has accused foreign governments of misappropriating trade deals after finding China often peer pressures U.S. companies — notably tech giants like Apple and Google — to turn over valuable trade secret information in an effort to usurp market dominance.
“For countless Americans,this agreement has failed,” Lighthizer said. “We cannot ignore the huge trade deficits, the lost manufacturing jobs, the businesses that have closed or moved because of incentives, intended or not in the current agreement.”
In a bid to bring negotiations to the table, the president has offered to forgo the steep tariffs proposed on steel and aluminum exports if a fair deal on NAFTA can be reached.

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