Trump triggers NAFTA talks

US President Donald Trump has formally triggered the renegotiation of the North American Free Trade Agreement (NAFTA).

Yesterday, US trade representative Robert Lighthizer  notified Congress that the US would begin a 90 day consultation period to renegotiate the trade deal with Canada and Mexico.

“Today, President Trump fulfilled one of his key promises to the American people. For years, politicians have called for the renegotiation of this agreement, but President Trump is the first to follow through with that promise,” said Lighthizer.

The future of NAFTA has been uncertain since Trump announced in November last year that he would withdraw the US from the Trans-Pacific Partnership (TPP), another trade deal that covers 12 nations.

Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam were the nations in the agreement.

In January this year, Trump  abandoned his country’s involvement in the TPP, sparking more uncertainty for the future of NAFTA.

At the time, Trump reportedly said: “We will be starting negotiations having to do with NAFTA. We are going to start renegotiating on NAFTA, on immigration and on security at the border.”

WIPR readers were split over whether the renegotiation of NAFTA would be bad for IP owners in the country.

Responding to a  survey, 53% of readers said the renegotiation would negatively affect rights owners and 47% thought it would have positive consequences.

Trump’s plan raises further questions regarding IP protection in Canada and Mexico for US owners, said one reader.

Another added: “The US has always pushed for higher IP standards in all its free trade negotiations. A renegotiation would only benefit IP owners, as the standards would not be lowered.”

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