Mexico, Canada and the United States will soon sit down to update the North American Free Trade Agreement (NAFTA). Moving toward that process, U.S. and Mexican business leaders and officials will meet Tuesday in Washington with the “modernization” of NAFTA, as the U.S. Trade Representative put it to Congress, on the agenda.
Many agree that this effort is worthwhile to keep our region competitive. After 23 years, parts of the agreement should be adjusted, for example, to include e-commerce, data flows and other products and services that have emerged since 1994. U.S. companies have a strong presence in these sectors. Other aspects of NAFTA will be reviewed in light of the decades of experience to address shortcomings. Each country will have their particular areas of concern.
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