Welles Orr Comments on New Version of NAFTA in Global Trade Review

"New Nafta: 'The Road to Passage Looks Bleak'"

Global Trade Review

05.01.2019

Welles Orr commented on the revised version of the North American Free Trade Agreement (NAFTA), in which the United States-Mexico-Canada Agreement (USMCA) backed by the Trump administration would replace the original, 26-year-old agreement. "This is not a blockbuster transformative new trade agreement by any means. But on the other hand, it will get support because people realise that Nafta needed to be upgraded, so this is an improvement on that. The feeling is more: 'Let us get this done and move on to other trade agreements,'" said Orr, who was involved in the introduction of NAFTA when it was passed into law in late 1993, adding, "There is a sentiment ... that the road to passage looks bleak, but there is still time to get it done within this year."