Vague trade plan after Trump's tough talk

Also, note that this is simply what the USA will ask for, and not necessarily what it will get after sitting down with Canada and Mexico.

The Trump administration is seeking mainly limited changes to the North American Free Trade Agreement with Mexico and Canada, the Wall Street Journal reported on Thursday, citing an administrative draft proposal circulated in Congress by the Office of the U.S. Trade Representative.

Some critics say these entities infringe on national sovereignty. Sherrod Brown. "President Trump made big promises to working people in OH, and I'm ready to work with him to deliver on those promises or hold him accountable if he doesn't".

"There's no change in our thinking", Ross told CNBC.

"For reasons of scale alone, improving the NAFTA has the greatest potential to benefit the workers, farmers, and firms of the United States", the draft says, which was signed by Stephen P. Vaughan, the acting U.S. Trade Representative.

If it represents the president's plan for a revamped NAFTA, she said, "he will have broken his campaign promises to make NAFTA better for working Americans and have a deal that can not get a majority in Congress".


The draft letter suggests a much more diplomatic tone than President Trump has threatened to use during NAFTA renegotiations.

"The language is soft". He frequently called the pact a "disaster".

The eight-page letter outlines a number of categories where the US will seek changes to NAFTA.

On the campaign trail, Trump made it sound like he wanted to rip up NAFTA altogether. China's central authorities still reserve the right to take measures to stabilize currency markets and the banking sector, while Mexico's banking system is largely foreign owned.

But the president also created the National Trade Council led by the economist Peter Navarro, who has talked up border taxes in hopes of bringing factory jobs back into the United States. It says, among other things, that the White House would look to strengthen cooperation under the World Trade Organization, an global group that the Trump administration had suggested in the past it might not abide by.

Spicer added that Trump's nominee for USA trade representative, Robert Lighthizer, hasn't yet been confirmed by the Senate.

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