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August 24, 2017
Conclusion of the first round of NAFTA renegotiation
Canada, Mexico and the United States launched in Washington last week the renegotiation and modernization of the North American Free Trade Agreement (NAFTA).
During this first round, detailed presentations were made by the United States, Mexico and Canada across the scope of the agreement, and negotiating groups began work to advance text and agreed to provide additional text, comments or alternate proposals during the following two weeks.
According to a joint news release the scope and volume of proposals during the first round of the negotiation reflects a commitment from all three countries to an ambitious outcome and reaffirms the importance of updating the rules governing the world's largest free trade area.
Negotiators from each country will reconvene in Mexico for a second round of talks from September 1-5.
The joint release says negotiations will continue at a rapid pace, moving to Canada in late September and returning to the United States in October, with additional rounds being planned for the remainder of the year.
August 25, 2017
NAFTA trade flows were up 7.7 percent in June
The value of cross-border freight exchanged by North American Free Trade Agreement (NAFTA) partners was up 7.7 percent in June 2017 compared to June 2016, reaching a total of $99.8 billion, according to the TransBorder Freight Data from the U.S. Bureau of Transportation Statistics (BTS).
It was the eighth consecutive month in which the year-over-year value in current dollars of U.S.-NAFTA freight increased from the same month of the previous year.
According to the BTS, trucks carried 63.4 percent of U.S.-NAFTA freight and continued to be the most heavily utilized mode for moving goods to and from both U.S.-NAFTA partners. Trucks accounted for $32.2 billion of the $53.2 billion of imports (60.6 percent) and $31.0 billion of the $46.6 billion of exports (66.6 percent).
From June 2016 to June 2017, the value of U.S.-Canada freight flows increased by 6.0 percent to $51.1 billion as the value of freight on three major modes increased from a year earlier. The value of freight carried on pipeline increased by 30.5 percent, rail by 8.1 percent, and truck by 2.3 percent. Air decreased by 2.9 percent and vessel decreased by 10.3 percent.
Trucks carried 58.3 percent of the value of the freight to and from Canada. Rail carried 16.1 percent followed by pipeline, 9.8 percent; air, 4.5 percent; and vessel, 3.4 percent. The surface transportation modes of truck, rail and pipeline carried 84.1 percent of the value of total U.S.-Canada freight flows.
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