The fourth round of the North America Free Trade Agreement (NAFTA) renegotiation talks kicked-off this week and the prospects for reaching some consensus agreement on major NAFTA trade principles by the end of this year are now looking to be rather challenging. Once more, various industry and business interests are growing more worrisome as to U.S. objectives in these talks, as well as their potential implications.
Global Trade Issues
This week, a significant development occurred in the commercial aircraft sector, one that will likely have geo-political and trade policy reprisal implications that could likely impact aerospace and other industry supply chains down the road.
The latest political firestorm surrounding the Trump presidency involves the aftermath of the rioting and act of domestic terrorism that occurred in Charlottesville Virginia, pitting white supremacists against counter-protesters. The President now indicated that he has decided to disband both the President’s American Manufacturing Council and the President’s Strategy and Policy Forum.
With the formal start of re-negotiations concerning the North America Free Trade Agreement (NAFTA), many industry supply chain teams should be monitoring developments and conducting ongoing analytical analysis and management education. There is a very narrow window for negotiators to come to a broad consensus of agreement.
Last week, U.S. West Coast dockworkers agreed to extend their existing labor contract with port operators for an additional three years, setting-up a potential tense period of upcoming negotiations scheduled for U.S. East Coast dockworkers.