U.S. TO BEGIN NAFTA PROCESS: ROSS
The U.S. government hopes to take the first formal step in renegotiating NAFTA within the next couple of weeks, setting the stage for negotiations with Canada and Mexico later this year. Commerce Secretary Wilbur Ross says he hopes to advise Congress within two weeks of the Trump administration’s intention to renegotiate the agreement. That would begin a pre-negotiating consultation process of at least 90 days. It could take more than three months; U.S. lawmakers are wrestling with more pressing priorities — health reform and major changes to U.S. corporate taxes. Lawmakers would also have their say on priorities for NAFTA. U.S. law says that if the administration wants lawmakers to agree to a simple yes-or-no vote on a trade deal, it must consult with Congress throughout the process — before negotiations start; during negotiations; and before signing the deal.