June 7, 2017

Steel Groups Outline Priorities in New NAFTA

North America’s leading steel groups have released a list of priorities for the renegotiated NAFTA agreement. The Trump Administration, led by U.S. Trade Representative Robert Lighthizer, announced last month its plans to revisit the 23-year-old free trade deal.

Trade groups from the U.S., Canada and Mexico have jointly created the priority list to continue the growth in steel consumption in North America, while increasing intra-NAFTA trade and market share. Executives from the American Iron and Steel Institute, the Steel Manufacturers Association, the Canadian Steel Producers Association, Mexico’s CANACERO, the Committee on Pipe and Tube Imports and the Specialty Steel Industry of North America jointly created the policy statement.

Goals of the renegotiated deal include:
  • Strengthening rules of origin and enhanced regional value content requirements;
  • Promoting trade enforcement cooperation and coordination;
  • Establishing enforceable currency disciplines;
  • Establishing disciplines on the conduct of state-owned enterprises;
  • Improving customs procedures operation and coordination; and upgrading border infrastructure.

“NAFTA has provided significant benefits to U.S., Canadian and Mexican steel industries. It has resulted in strengthened North American manufacturing supply chains, especially with key customer groups like the North American automotive industry. It has contributed to increases in exports, investments, and helped the steel industry remain globally competitive. While we view NAFTA as a successful agreement, after 23 years it can be modernized and strengthened,” according to a statement from the groups. “We welcome the opportunity to work with our respective governments to re-examine and modernize the agreement.”


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Sunday, December 17, 2017