U.S. Seeks to Shift Trade Tides as It Starts Nafta Overhaul
- Lighthizer says bringing back manufacturing jobs is priority
- U.S. goal is to retain three-way deal, trade chief says
Wilbur Ross Says Nafta Is an 'Obsolete Agreement' at Best
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President Donald Trump’s administration took its first formal step toward renegotiating the North American Free Trade Agreement, setting the stage for talks that could influence more than $1.2 trillion in annual trade and shake up corporate supply chains.
U.S. Trade Representative Robert Lighthizer gave official notice to Congress on Thursday of the government’s intention to renegotiate the 23-year-old accord with Mexico and Canada. Lighthizer was required to do so under a law that enables the president to fast-track trade legislation through Congress.