Published: Wed, May 17, 2017
Markets | By Erika Turner

Tech Giants Press Lighthizer To Liberalize Digital Trade Rules

Tech Giants Press Lighthizer To Liberalize Digital Trade Rules

Mexican Economy Minister Ildefonso Guajardo said today that he anticipates that the Trump administration will notify Congress of plans to renegotiate NAFTA at the beginning of next week, Reuters reports.

In its latest report, the Korea International Trade Association said Mexico's exports to the US will drop significantly if Washington exits NAFTA or comes up with a higher tariff policy.

Lighthizer will immediately start preparing the groundwork for renegotiation of the North American Free Trade Agreement-a process Trump says faced setbacks as lawmakers delayed Lighthizer's confirmation for months.

During the 2016 US election campaign, Trump vowed to scrap the 1994 deal between the United States, Canada and Mexico if he can not adjust it to benefit USA interests.

Pence Assures Japan America is With Ally '100 Percent'
When asked if he had ruled out some sort of military strike against North Korea, Trump said he did not wish to reveal his plans. Officials and experts, however, claimed that no nation has mastered the necessary technology to follow through with the threat.

The Motorcycle Industry Council (MIC) is calling for members to reach out to their Representatives or Senators to block the proposed U.S. Trade Representative (USTR) tariff on motorcycles with an engine size of 50cc to 500cc imported from the European Union.

In Washington, Ross declined to predict the exact timing of the notification, saying that there were more consultations with Congress needed first.

They stated that now that the government of President Donald Trump has chosen a new USA trade representative, the process leading to the reformulation of the trade pact that connects the three economies since 1994 must begin as soon as possible. The U.S. sugar lobby wants Mexico to export less refined sugar and has become emboldened since Trump took office.

Guajardo met with U.S. Commerce Secretary Wilbur Ross in Washington earlier this week.

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