More Than 100 Trade Groups Urge Administration to Continue ISDS in NAFTA
More than 100 trade associations on Aug. 8 urged the Trump administration to work to upgrade NAFTA investor-state dispute settlement (ISDS) provisions during upcoming renegotiations. A letter sent to U.S. Trade Representative Robert Lighthizer, Commerce Secretary Wilbur Ross, Secretary of…
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State Rex Tillerson, Treasury Secretary Steve Mnuchin and National Economic Council Director Gary Cohn says the renegotiations provide an opportunity to enhance U.S. protection and enforcement tools against the “theft, discrimination and unfair treatment of U.S. property overseas.” Foreign investment allows U.S. companies to establish unique distribution networks to deliver products directly, tailor products to local consumers, and earn sales more efficiently, the groups said. With those investments, businesses in the United States also see additional advantages, as exports of U.S. goods are more often included in foreign infrastructure and natural resource development when those projects include American investment, the organizations said. Trade groups that signed the letter include the American Apparel and Footwear Association, the American Petroleum Institute and the Express Association of America.