NAFTA

Trade negotiators met for a second round of talks on NAFTA over the weekend. President Trump has threatened to pull out of the agreement if it can’t be renegotiated.

From Texas Standard

The North American Free Trade Agreement went into effect January 1, 1994 The pact was created to bolster trading of commodities between Canada, the U.S. and Mexico, by eliminating trade tariffs. But some argue that making it cheaper to trade also made it easier for companies to move American jobs elsewhere.

Texas Tribune

Texas’ Senior US Senator stressed the importance of the North American Free Trade Agreement or NAFTA following President Donald Trump’s comments at a rally in Arizona predicting a termination of the agreement.  

During his campaign-style speech in Arizona, the President said that he doubted the U.S. could renegotiate NAFTA with Mexico and Canada and ultimately terminating the agreement would be a likely outcome.  

US Sen. John Cornyn agrees the trade deal needs to be revamped, but says talk of ending it would be dangerous to the Texas economy.

From Texas Standard:

Even though the Texas Legislature failed to pass measures to reform property taxes or the school finance system during the regular and special sessions, the Federal Reserve Bank of Dallas says the Texas economy continues to grow at a solid pace.

Comptroller Glenn Hegar is the chief tax collector, accountant and revenue estimator for the state government. Among his responsibilities is providing the legislature with an estimate of state revenue before each regular legislative session.

 

NAFTA Renegotiations Begin This Week

Aug 16, 2017

From Texas Standard:

As the U.S., Mexico and Canada begin renegotiating the North American Free Trade Agreement, or NAFTA — an agreement that President Donald Trump famously promised to end — American businesses have doubled down on the argument that NAFTA has been good, on balance, for everyone.  

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