DEPARTMENT: Economic Development
DEPARTMENT HEAD: Rene Dominguez
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT: The Free Trade Alliance, San Antonio Chamber of Commerce, and San Antonio Hispanic Chamber of Commerce will provide an update on federal trade related issues such as the North American Free Trade Agreement, Border Adjustment Tax, EXIM Bank, Presidential Executive Orders, and the National Trade Council.
SUMMARY:
The Free Trade Alliance, San Antonio Chamber of Commerce, and San Antonio Hispanic Chamber of Commerce will provide an update on current federal trade related issues impacting the San Antonio community.
BACKGROUND INFORMATION:
The Free Trade Alliance (FTA) is charged with advocacy and research support on critical trade, investment, and logistics policies important to San Antonio. Additionally, the San Antonio Chamber of Commerce (SACC) and San Antonio Hispanic Chamber of Commerce (SAHCC) are equally interested in protecting the business community’s interest and also advocate for trade related issues. Together these organizations have a mutual vested interest in international trade policy, and therefore, solicit feedback from their membership, the community, as well as legislators to further develop trade policy input important to San Antonio.
The update will include trade related issues such as Border Adjustment Tax, EXIM Bank, Presidential Executive Orders, and the National Trade Council. However, one of the most critical issues to be presented is the impact of the upcoming negotiations for the North American Free Trade Agreement (NAFTA).
On May 18, 2017, the U.S. Trade Representative Office formally informed Congress that the President intends to commence negotiations with Canada and Mexico with respect to the NAFTA. The initial notice states the U.S. wants to potentially include new elements in 10 areas ranging from intellectual property to environmental measures. Full details of the elements to be negotiated will be made available on or before mid-July. In the meantime, local feedback was solicited and submitted by the aforementioned organizations on Monday, June 12, 2017, the public comment deadline. Negotiated terms are expected to be approved in late 2017 or early 2018.
ISSUE:
This is a briefing by the Free Trade Alliance San Antonio, San Antonio Chamber of Commerce, and San Antonio Hispanic Chamber of Commerce to provide a legislative update on federal trade related issues including the North American Free Trade Agreement.
FISCAL IMPACT:
There is no fiscal impact to the City’s Budget.
RECOMMENDATION:
This is a presentation and no action is necessary.