DEPARTMENT: Economic Development
DEPARTMENT HEAD: Rene Dominguez
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT:
The Economic Development Department (EDD) will provide an update on San Antonio’s response to the renegotiation and modernization the North American Free Trade Agreement (NAFTA).
SUMMARY:
EDD will provide an update on current status and the City’s response to the NAFTA renegotiations.
BACKGROUND INFORMATION:
A detailed and comprehensive summary of the objectives for the renegotiation of the NAFTA was released July 17, 2017. The objectives include adding a digital economy chapter and incorporating and strengthening labor and environment obligations that are currently in NAFTA side agreements.
The first round of talks between the United States, Mexico and Canada on revamping the NAFTA will take place in Washington D.C. August 16-20, 2017. It is anticipated that a total of seven rounds of negotiation talks will be scheduled, each scheduled at three-week intervals. The tight schedule allows for the conclusion of negotiations by December 2017 and well in advance of Mexico's July 2018 presidential election. Presidential notification to Congress, signing of the renegotiated NAFTA, and final congressional approval are scheduled for January, March, and September 2018, respectively.
ISSUE:
As a community that benefits greatly from NAFTA, it is imperative to maximize the potential benefits associated with this renegotiation, leveraging our community leaders and success stories to support local businesses directly affected by NAFTA.
ALTERNATIVES:
None.
FISCAL IMPACT:
There is no fiscal impact to the City’s Budget.
RECOMMENDATION:
This item is for briefing purposes only.