Uncertainty over NAFTA Impacts U.S. Business Investment

Farmscape for October 25, 2017

The National Pork Producers Council says uncertainty around trade agreements, such as NAFTA, are making businesses more reluctant to invest in growth opportunities both at home and abroad.
After reaching an impasse in Round 4, negotiators involved in revamping the North American Free Trade Agreement have delayed the start of Round 5 and extended the target for completing the talks.
An ad hoc coalition representing the National Pork Producers Council, the Business Roundtable, the National Association of Manufacturers, the National Foreign Trade Council, the Coalition of Services Industries and the American Farm Bureau Federation, has been raising the alarm over the negative consequences for agriculture of withdrawal from NAFTA.
National Pork Producers Council Senior Communications Director Jim Monroe says many American jobs depend on U.S. trade with Mexico and Canada and significant growth has resulted throughout agriculture from the deal.

Clip-Jim Monroe-National Pork Producers Council:
We have very aggressively advocated our position on NAFTA to the administration, including the U.S. Trade representative, to the U.S. Department of Agriculture and to Congress.
We are strongly urging the administration to enhance the agreement but to maintain the benefits we've realized through it.
I think right now there is a certain level of uncertainty around trade in North America, between the U.S., Canada and Mexico and I think the sooner we can eliminate that uncertainty the better.
Uncertainty around trade agreements like this make businesses more reluctant to invest in growth opportunities both at home and abroad so I think the sooner we can remove the cloud of uncertainty around us right now the better.

Monroe says it's important to move through the negotiation quickly and to maintain the benefits that have been realized through NAFTA.
For Farmscape.Ca, I'm Bruce Cochrane.


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