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US Demands Big Changes as NAFTA Talks Begin

'We believe NAFTA has fundamentally failed many, many Americans'

(Newser) - The United States won't settle for cosmetic changes to the North American Free Trade Agreement, the top US trade negotiator said as negotiations to rework terms of the pact began Wednesday. President Trump has called the 23-year-old trade pact the "worst" in history and vowed to fix it—... More »

Trump Says He Thought Being President 'Would Be Easier'

'I loved my previous life,' he says

(Newser) - President Trump has been the most powerful person in the world for almost 100 days, and he seems to be finding it kind of a drag, according to a Reuters interview. "I loved my previous life. I had so many things going," Trump said in what Reuters describes... More »

Trump Not Pulling Out of NAFTA 'at This Time'

He says he's going to renegotiate trade pact

(Newser) - President Trump will not be adding "scrapping the North American Free Trade Agreement" to his list of accomplishments in his first 100 days. After reports that Trump was planning an executive order for US withdrawal from NAFTA, the White House issued a statement Wednesday evening saying Trump has "... More »

As Trump Takes Stage, Mexico's Peso Tanks

Already in freefall, uncertainty causes peso to hit an all-time low

(Newser) - The Mexican peso hit an all-time low against the dollar Wednesday shortly after President-elect Donald Trump took the stage, reports Reuters , falling to 22 pesos on the dollar. The peso was already in freefall, dropping 2% on Tuesday and almost 16% against the dollar since Trump's election victory amid... More »

Fact-Checkers Weigh In on Debate

Clinton hasn't fought ISIS her 'entire adult life'

(Newser) - The first presidential debate was a busy night for the fact-checkers—who were asked to "get to work" by Hillary Clinton after Donald Trump said she had been fighting ISIS her "entire adult life," the Los Angeles Times reports. ISIS, in fact, first emerged in 2004 as... More »

Trump Threatens to Scrap NAFTA

Canada, Mexico 'so used to having their own way'

(Newser) - The British aren't the only ones who want to rip up trade deals. Donald Trump, speaking at an aluminum scrap company in Pennsylvania on Tuesday, slammed the NAFTA pact with Canada and Mexico and warned that as president, he will either seek a better deal or scrap the deal... More »

Top GOP Fundraiser Mosbacher Dead at 82

Bush 41's commerce secretary helped grease the skids for NAFTA

(Newser) - Robert Mosbacher, a legendary GOP fundraiser who served as George HW Bush's commerce secretary, died of cancer today in Houston. The multimillionaire oilman was 82. Mosbacher, an influential NAFTA proponent, was "the shrewdest dealmaker I ever knew," Bush, a friend of half a century, said in a statement.... More »

Canada to US: Are We Still Friends?

American protectionism worries our northern neighbor

(Newser) - Canada’s biggest problem now also happens to be its best friend: America. PM Stephen Harper once worried that Canada’s “special relationship” with the US had been lost under George W. Bush—and it hasn’t improved a bit under Obama, writes Luiza Ch. Savage in Macleans. Not... More »

'Three Amigos' Summit May Not Be So Amicable

Canada, Mexico both angry about Obama protectionism

(Newser) - President Obama is headed to Guadalajara today for his first "Three Amigos" summit with the leaders of Canada and Mexico, but the meeting may be less than completely friendly. Trade and drug trafficking will dominate the agenda, and the leaders have some grievances they plan to press, reports Reuters.... More »

US Trading Partners See Huge GDP Falls

Mexico contracts 21.5% as American demand dries up

(Newser) - Yesterday Mexico became the latest country to disclose a sharp economic contraction as a result of the slowdown in US consumption of imported goods. Mexican GDP fell at an annualized rate of 21.5% in the first quarter, following Germany, down 14.4%, and Japan, 15.2%—its worst performance... More »

Next 100 Days Promise Real Test

(Newser) - President Obama’s efforts to reach out domestically and internationally in his administration’s infancy “have paid off remarkably,” Howard Fineman writes in Newsweek, but there are tough times ahead. “To make good on the promise of days 1-100,” Fineman writes, “Obama will have to... More »

Mexico Slaps US With Tariff

(Newser) - Mexico said yesterday it will increase tariffs on about 90 US products in retaliation for last week's decision to end a pilot program that allowed some Mexican trucks to transport goods in the United States. The measure will affect about $2.4 billion in trade involving goods from 40 states.... More »

Crisis Cripples Obama Vows on Taxes, Trade

Businesses gird for battle; hike on wealthy may have to wait

(Newser) - Some of President Obama’s best campaign applause lines will likely be silenced by economic reality, the Wall Street Journal reports. With the recession raging, Obama probably won't roll back the Bush tax cuts as promised, and his pledge to eliminate tax loopholes for corporations that shift jobs overseas is... More »

Obama, Harper Launch 'Clean Energy Dialogue'

(Newser) - President Obama and PM Stephen Harper today announced an environmental partnership between the US and Canada, the Globe and Mail reports. Harper spoke of a “clean energy dialogue” between top officials to “collaborate on the development of clean energy science and technology.” Said Obama, who was making... More »

Obama Heads to Canada Amid Trade Concerns

NAFTA issues likely to loom large over visit

(Newser) - Barack Obama makes his first foreign trip as president today to Canada, and his talks there are likely to touch on some thorny trade issues, the New York Times reports. Obama spoke forcefully in favor of reopening NAFTA while a candidate, but intends to focus on strengthening the US-Canada trade... More »

Ex-Dallas Mayor Kirk Will Be Obama's Trade Rep

Free-trade Democrat among few Southerners tabbed for cabinet

(Newser) - Barack Obama will announce former Dallas mayor Ron Kirk as his nominee for trade representative tomorrow, the Dallas Morning News reports. Kirk, who ran unsuccessfully for Senate in 2002, is pro-trade and a staunch supporter of NAFTA. Kirk campaigned extensively for Obama, and is one of the few Southern faces... More »

Obama Advisers Please the Right, But Not Much

Two 'pro-free-trade' centrists guide him, up to a point

(Newser) - If Barack Obama takes office, conservatives can take a small measure of comfort knowing that  two of his top economic advisers have generated angst on the left for being "centrist, pro-free-traders," writes Cesar Conda in the Weekly Standard. Austan Goolsbee and Jason Furman—the latter a Wal-Mart defender—... More »

Obama Will Plunge US Into Recession

Dem's plans would spell disaster, says wonk for first Bush

(Newser) - Barack Obama’s campaign promises on the economy—particularly on taxes and trade—would be a disaster for Americans at all income levels, an adviser to the first President Bush writes in the Wall Street Journal. On “tax, spending, energy, regulatory, and trade policy, if the proposals espoused by... More »

McCain Wins the Week as Obama Misfires

Mark Halperin sizes up the latest skirmishes

(Newser) - Score this week for John McCain, writes Mark Halperin in Time. "McCain's week wasn't particularly good, but Obama's was dreadful by comparison." Here’s how it adds up:
  • Image: McCain’s goal is to make Obama look “like an ordinary politician.” Barack helped with one of
... More »

Linchpin in 'NAFTA-Gate' to Step Down

Canadian PM's chief of staff linked to leaks about Obama talks

(Newser) - Ian Brodie, chief of staff to Canada's prime minister and the key figure in the "NAFTA-gate" scandal, will step down by summer, the Globe and Mail reports. Brodie, the architect of the Conservative Party's victory in 2006 elections, is under investigation in leaks that clouded the Democratic primary in... More »

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