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NAFTA Negotiations Continue
On August 27, the Trump administration announced a breakthrough in NAFTA trade negotiations with Mexico. The deal is only a “preliminary agreement in principle” according to the administration and a final version has yet to be released. However, details that have emerged include additional intellectual property protections, labor rights, and changes in rules of origin for automobiles. Some provisions that cover petrochemicals have yet to be announced.
Canadian and U.S. officials are set to meet in Washington, DC in the coming weeks to continue discussions on bringing Canada into the updated NAFTA agreement with Mexico. Any final agreement will need to be ratified by Congress, as well as by Mexico and Canada.
VI continues to work with large trade coalitions, including the National Association of Manufacturers (NAM) and the National Retail Federation (NRF) supporting fair trade for the manufacturing community facing retaliatory tariffs being imposed or threatened by U.S. trading partners. After President Trump decided to impose $200 billion on Chinese goods, China responded in kind by adding vinyl products to its list of products to apply retaliatory tariffs. VI is working with an extensive coalition of trade associations and companies to push back against these tariffs.