Federal Spotlight: NAFTA and Tariffs
March 8, 2018
The seventh round of talks to renegotiate NAFTA was held during the last two weeks. Several key issues remain unresolved, including rules of origin for automobiles, investor-state dispute settlements and whether or not there should be a sunset on any new agreement that might be reached. Negotiators are hoping to come to a conclusion on the issue sooner rather than later, as Mexico’s elections take place on July 1 and the U.S. has its elections in November. The next round of talks will take place later this month in the U.S.
President Trump announced last week that he will slap tariffs of 25% on steel imports and 10% on aluminum imports. He could sign a measure as early as today that would impose those taxes. The president believes the move will help those industries and counter overproduction of those materials by foreign countries. Several in the business community have come out strongly against those measures, as many fear a trade war with some of our allies would ensue if these tariffs come to fruition.
- Des Moines Register: Reynolds: Ending NAFTA could have ‘devastating’ effects on Iowa farmers, manufacturers
- U.S. Congressman David Young Press Release:Young, Ernst lead Iowa Delegation in letter urging President not to impose tariffs
- GOVERNING Magazine:Trump’s Tariffs Could Hurt More Local Economies Than They Help
- The Gazette:How a trade war could hit Iowa