Download
HTML Embed
HTML EMBED
Click to Copy
Corner Office from Marketplace

The CEO of Lands' End knows exactly who his customers are

Jun 19, 2019

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Tech
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Make Me Smart with Kai and Molly
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy

U.S. and Mexico tentatively set to replace NAFTA with new deal

Associated Press Aug 27, 2018
Share Now on:
U.S. President Donald Trump shake hands with Mexico's Economy Minister Ildefonso Guajardo Villarreal in the Oval Office of the White House in Washington, D.C., today.
MANDEL NGAN/AFP/Getty Images

WASHINGTON — The Trump administration and Mexico have reached a preliminary accord to end the North American Free Trade Agreement and replace it with a deal that the administration wants to be more favorable to the United States.

President Donald Trump, in announcing the tentative agreement Monday at the White House, said a new deal would be called “the United States-Mexico Trade Agreement.” Trump has frequently condemned the 24-year-old NAFTA trade pact as a job-killing “disaster” for the United States.

Still, any new agreement is far from final. The administration still needs to negotiate with the third partner in NAFTA, Canada, to become part of any new trade accord. Without Canada, America’s No. 2 trading partner, it’s unclear whether any new U.S. trade agreement with Mexico would be possible.

The president said that he will be calling Canadian Prime Minister Justin Trudeau.

“If they’d like to negotiate fairly, we’ll do that,” Trump said.

Trump put pressure on Canada by threatening to tax Canadian auto imports and to leave Canada out of a new regional trade bloc.

NAFTA reduced most trade barriers between the three countries. But Trump and other critics say it encouraged U.S. manufacturers to move south of the border to exploit low-wage Mexican labor.

Talks to overhaul the agreement began a year ago and have proved contentious.

U.S. and Mexican negotiators worked over the weekend to narrow their differences. The Office of the U.S. Trade Representative said Monday that Mexico had agreed to ensure that 75 percent of automotive content be produced within the trade bloc (up from a current 62.5 percent) to receive duty-free benefits and that 40 percent to 45 percent be made by workers earning at least $16 an hour.

It remained unclear where Monday’s announcement leaves Canada.

Adam Austen, a spokesman for Canadian Foreign Minister Chrystia Freeland, said: “Canada is encouraged by the continued optimism shown by our negotiating partners. Progress between Mexico and the United States is a necessary requirement for any renewed NAFTA agreement.”

Austen said the Canadians had been in regular contact with the NAFTA negotiators.

“We will only sign a new NAFTA that is good for Canada and good for the middle class,” he said, adding that “Canada’s signature is required.”

The No. 2 Senate Republican, John Cornyn of Texas, hailed the “positive step” but said Canada needs to be party to a final deal.

“A trilateral agreement is the best path forward,” he said, adding that millions of jobs are at stake.

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.

Make a good investment!

Looking for a great deal?
Get ALL THREE of our new thank-you gifts when you donate $120.

This is a limited time offer – so act soon!