WASHINGTON — The president of the U.S. Chamber of Commerce says the Trump administration’s opening of the North American Free Trade Agreement (NAFTA) to more auto manufacturing and increased regional supply chains will boost the economy in North America.
Terry O’Sullivan, the president of the U.S. Chamber of Commerce, says it’s time to craft the “next great bargain” in NAFTA and revamp the 23-year-old agreement so that it better serves the U.S., Canada and Mexico. “The Canadian government needs to show leadership and now needs to complete that agreement,” O’Sullivan said in a statement.
The U.S. Chamber represents American businesses and is pushing to roll back the Obama administration’s economic policies.
On Nov. 19, Trump traveled to Ottawa, Ontario to speak with Prime Minister Justin Trudeau. The meeting was their first since Trump threatened to withdraw from NAFTA.
A new order opens the doors to more manufacturing in Canada
What: In a move hailed by both sides of the NAFTA negotiation, the Trump administration announced its intention to publish a U.S. bilateral pact with Canada that would require more Canadian products to be manufactured in the United States.
What it means: The proposal would further shield the automotive industry from rising automotive tariffs and avoid a 25 percent duty levied on imported steel and aluminum in the midterm vote in November. The most recent U.S.-Canada renegotiation on the auto sector, which is now known as the U.S.-Mexico-Canada Agreement, would exclude Canada from the exemption.
The U.S. and Canada will have 120 days to negotiate a revamped NAFTA deal before the deal is signed, and Canada has vowed to review the new provision, according to Reuters.
Would-be investors in more startups in DC jump into tech trends
What: In an effort to boost their startup companies’ chances for growth, investors in Washington, D.C. are seeking to aid upstart tech companies by creating incubators to help them flourish and attracting late-stage capital through crowdsourcing services.
Funding for such initiatives has reached a quarter-billion dollars this year, according to reports by Bloomberg, Google/I/O Ventures and the New York Times. A total of 13 states now have more than one venture capital fund operating within the area.
Funding for their endeavors has reached a quarter-billion dollars this year, according to reports by Bloomberg, Google/I/O Ventures and the New York Times. A total of 13 states now have more than one venture capital fund operating within the area. What to look for: Most of the investment takes place in social media analytics, software and marketing firms. The strong business community is looking to attract investments as more venture capitalists step down from running these companies.
Tell me your allergies and, perhaps, your Facebook plan of attack
What: Victoria German, a 21-year-old resident of Brooklyn, New York, created an app that allows users to discuss allergies on Facebook — as well as obtain advice on how to combat them.
The app, called You’re Allergic, uses the social network’s messaging features, accessible through a Q&A section, to link users with fellow allergy sufferers.
What it’s like: German explains that the initial idea for the app came about after years of seeking answers to what causes her severe allergies. “I’m allergic to grass and dirt, and I went to a New York City park one day and there was a lot of dirt,” German said. “I’m always trying to fight my allergies, and I love asking questions about them.”
In March, she posted about the app on Facebook, saying that an English-language version would be released that month, according to BuzzFeed News. German said that by July, she had a working version of the app and began adding users, eventually inviting 250 patients.