Wilbur Ross on NAFTA

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Last quote by Wilbur Ross on NAFTA

If we don't fix the rules of origin, negotiations on the rest of the agreement will fail to meaningfully shift the trade imbalance. Our nation's ballooning trade deficit has gutted American manufacturing, killed jobs and sapped our wealth. That is going to change under President Trump, and rules of origin are just the beginning.feedback
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Sep 25 2017
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All quotes by Wilbur Ross on NAFTA

If we could only get Congress to release the 90-day letter, we'll be going on our side as well. In many critical things such as the very high purity of the aluminium we need in aerospace, we only have one producer. That's not a good formula.feedback

If NAFTA were functioning properly, you wouldn't be having these kinds of very prickly and unfortunate events back to back. They are generally a good neighbor. That doesn't mean they don't have to play by the rules. The problem with dairy isn't that they're dumping dairy products in the US. The problem is worse. They are prohibiting US dairy producers from selling their products in Canada.feedback

There was a rumour today that there would be an executive order, just a rumour, and my practice is to comment on things we have actually done or are doing as opposed to commenting on rumours.feedback

They are a close ally, they are an important ally, generally a good neighbor. That doesn't mean they don't have to play by the rules. Things like this I don't regard as being a good neighbor, dumping lumber. And there's a feeling in the dairy industry that they are a little bit abrupt in the action they took the week before. I think it does. Think about it: If NAFTA was functioning properly, you wouldn't be having these kinds of very prickly, very unfortunate developments back to back. NAFTA has not worked as well as it should. Now you're really getting outside my area.feedback

There's no change in our thinking. This letter simply describes in very broad outline the topics that we will be discussing. So I don't think there's any great reason for you to overthink it.feedback

There's no change in our thinking ... I don't think there's any great reason for you to overthink it.feedback

The next stage will be – hopefully sometime in the next couple of weeks – issuing the 90-day (consultation) letter. That's what triggers the beginnings of the formal process itself. We don't have a date certain for that. We've been in discussion with the – Senate finance committee and the House ways and means committee. It will either be two parallel bilaterals, with symmetrical provisions. Or one new trilateral. We're less concerned at this stage with the exact form than we are with trying to get to the substance.feedback

NAFTA is a trilateral agreement and it would make a lot of sense to have trilateral discussions.feedback

As to Canada and Mexico, the President-elect has made no secret in his public remarks, nor have I, that NAFTA is logically the first thing for us to deal with. We ought to solidify relationships the best way we can in our own territory before we go off into other jurisdictions.feedback

Hillary Clinton can't tell a good trade deal from bad one. She was for NAFTA [North American Free Trade Agreement], which has cost almost a million jobs. The one that [Clinton] boasted in her economic speech that she went against was Central American Free Trade Agreement. That free trade deal worked out well for the U.S. in the form of trade surpluses with CAFTA countries.feedback

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Quotes by Wilbur Ross on NAFTA

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