Supply Chain Matters provides a breaking news commentary to our ongoing updates and insights related to global trade and tariff tensions. Both the U.S. and Mexico announced today a bi-lateral trade agreement paving the way for Canada to participate in a NAFTA replacement trade agreement. President Trump however, is calling for renaming of this agreement, to obliterate the former connotation.
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Hopes are fading for a successful rewrite of the North American Free Trade Agreement (NAFTA), at least for this year. Negotiators representing the three countries reportedly appear too far apart to reach a deal before a self-imposed deadline of this week. The geo-political landscape is indeed more tense across many regions, and the reality of globally-extended supply chains remains subject to added risk, cost, or other factors for weeks and possibly months to-come.
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Supply Chain Matters highlights current significant price hikes and severe supply shortages occurring in the North America based lumber supply sector. The same scenario could play out in metals under similar conditions.
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Trade representatives of Canada, Mexico and the United States completed another five days of NAFTA re-negotiation talks this week which were hosted by Mexico. After this fifth round, the overall mood of these talks remains far less optimistic for a successful overall outcome.
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This week, United States Secretary of Commerce Wilbur Ross spoke to attendees of The Wall Street Journal’s CEO Council indicating that the Trump Administration’s ongoing hardball strategy regarding ongoing North America Free Trade Agreement (NAFTA) talks comes from perceived leverage over Canada and Mexico.
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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.
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