ACCF Chief Economist Dr. Pinar Cebi Wilber issued the following statement in recognition of the one year anniversary of the commencement of NAFTA renegotiation:
“Today marks one year since talks to renegotiate NAFTA began between the United States, Canada and Mexico. NAFTA has spurred remarkable economic growth for each member nation, but required modernization due to the ever changing trade and commerce landscape. As the Trump Administration continues negotiations, it must make protecting foreign investment a top priority and include the Investor State Dispute Settlement (ISDS) mechanism within the updated agreement. American businesses need to be close to either their customer base or to their resources, but without protection from expropriation, they will be less likely to invest outside the U.S. The result will be lost overseas markets, stunted economic growth and damaged long-standing trade relationships. With markets becoming more integrated across borders and across all industries, it is now more important than ever that foreign investments be protected from state intervention. The inclusion of ISDS in a final NAFTA agreement will protect American foreign investment and in turn, allow for the continued growth of American trade.”
