Daily News | Reducing US trade deficit

The main news today is reducing the US trade deficit, or at least attempts of the government to do so. According to the latest information, their newest plan is to radically modify the North American Free Trade Agreement (NAFTA). American demands include reinforcing negotiations every five years and making it easier to pursue import barriers against some Mexican and Canadian goods. This situation has to do with the general policy of President Donald Trump who is trying to shrink US trade deficit with Mexico and Canada and to get back some of the lost manufacturing jobs. He has been attacking NAFTA repeatedly from August. Although the USA has been trying to reduce trade deficit and its government is apparently doing anything possible to do so, Canadian and Mexican trade representatives don’t seem to be happy with this attitude. Mexican Minister of Economy Ildefonso Guajardo, Canadian Foreign Minister Chrystia Freeland and Robert Lightizer, U.S. Trade Representative, will meet later today to discuss the situation.

Also, we bring you some news from Australia. The Australian Securities and Investments Commission (ASIC) has a new corporate watchdog. His name is James Shipton. He’s a financial systems academic at Harvard Law School and will take the job over in February. Because of this, we might have some new dynamics with the Australian dollar!

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