The North American Free Trade Agreement (NAFTA) should be renegotiated to enhance economic opportunities domestically and abroad, the Aerospace Industries Association (AIA) recently said.
The Trump Administration is in the fifth round of talks to renegotiate NAFTA with the goal of reducing trade deficits and encouraging free, fair and reciprocal trade.
Modernizing NAFTA would address e-commerce and digital trade and would enhance intellectual property protections, AIA said.
AIA encourages the administration to prioritize policies that enable American aerospace and defense companies to export more products and to create more high-skill, high-wage jobs.
In 2016, the aerospace and defense industry contributed more than $90 billion to the U.S. economy, supported more than 2.4 million jobs, and comprised 13 percent of the manufacturing workforce.
Canada is the industry’s fourth largest exporting partner and second largest importing partner. Mexico is the 10th largest exporting partner and seventh largest importer.
AIA supports improving the current system and opposes proposals that may call into question the nation’s commitment.
“Both Canada and Mexico are integral parts of our industry’s global supply chain that sustains and grows our track record of success in the global marketplace,” AIA Director of International Affairs Kelvin Stroud said. “Our industry also benefits from America’s robust economic, political and security ties with Canada and Mexico.”