Trump wants new NAFTA deal to cut trade deficit with Mexico

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Trump wants new NAFTA deal to cut trade deficit with Mexico
Trump wants new NAFTA deal to cut trade deficit with Mexico

WASHINGTON (AP) – President Donald Trump is vowing to boost U.S. manufacturing by cutting the trade deficit with Mexico.

Trump says, “No longer are we going to allow other countries to break the rules, to steal our jobs and drain our wealth.”

The U.S. Trade Representative has released an 18-page report about its goals for updating the decades-old North American Free Trade Agreement. In addition to reducing the trade deficit, the administration wants to insert a chapter on the digital economy into the deal. It also wants to strengthen labor and environmental obligations.

The report contains the first specifics for a Trump administration that has pledged to recover factory jobs and boost wages through new trade deals.

The United States has a $64 billion goods deficit with Mexico.

President Donald Trump tries on a Stetson hat during a “Made in America,” product showcase featuring items created in each of the U.S. 50 states, Monday, July 17, 2017, at the White House in Washington. Stetson is base in Garland, Texas. (AP Photo/Alex Brandon)
President Donald Trump, accompanied by Vice President Mike Pence, gives a thumbs-up, from the cabin of a Pierce firetruck during a “Made in America,” product showcase featuring items created in each of the U.S. 50 states, Monday, July 17, 2017, at the White House in Washington. (AP Photo/Alex Brandon)
President Donald Trump holds up a signed proclamation during a “Made in America,” product showcase featuring items created in each of the U.S. 50 states, at the White House, Monday, July 17, 2017, in Washington. (AP Photo/Alex Brandon)
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