Written by Gabriel Dillard
This Sunday is Mexican Independence Day, and it’s as good a time as any to hope for a successful renegotiation of the Northern American Free Trade Agreement (NAFTA)
I support the California Chamber of Commerce’s position that a more modern NAFTA — originally signed by President George H.W. Bush in 1992 — should seek to support higher-paying jobs in he U.S. as well as help grow our economy by improving opportunities for domestic businesses.
While the agreement is showing its age, it still accounts for more than $1 trillion in annual trade between the U.S., Mexico and Canada. While President Trump has reached a preliminary agreement with Mexico to update NAFTA, negotiations with Canada remain ongoing.
The Calchamber acknowledges that details of the U.S.-Mexico agreement are forthcoming, but speaking to the fundamentals, the agreement will modernize NAFTA into a 21st century trade agreement that will be rebalanced to support manufacturing and strengthen agriculture.
Coming from the most dynamic agriculture region in the U.S., that is music to my ears.
As far as the importance of all this, here’s how the Calchamber puts it:
“Mexico and Canada rare California’s largest and second largest exports markets. A Successful renegotiation of NAFTA will benefit the California economy and jobs.”