Opinion: It’s North America’s moment in Washington fpcomment
At their meeting in January, the three North American leaders said they intended “to forge stronger regional supply chains, as well as promote targeted investment” in strategic sectors like semiconductors and batteries. Seeing North America as a competitiveness zone — one that helps producers in all three nations meet or beat foreign competition — is why we did NAFTA in the first place.
This a unique moment for North America. U.S. policymakers can promote the competitive boost from trilaterally integrated supply chains with much less political blowback than in the past. This new political dynamic comes courtesy of the dramatic push to diversify sourcing from China but is aided by the unprecedented labour protections of, which include wage-enhancing rules of origin for autos and a “rapid response mechanism” to address unfair labour practices.
Even in an environment driven by industrial policy and nearshoring, however, our nations need a coherent plan to attract investment to North America. It is not enough to chase subsidy dollars and assume companies eager to reduce their China footprint will commit to long-term investment here. Our three countries must create an investment climate characterized by certainty and predictability.
North American dispute settlement is now the most efficient path to resolve challenges, with four panels requested thus far , a fresh consultation request from the U.S. over Mexico’s limitation of genetically modified corn imports and one looming over discriminatory Canadian digital policy. So far, all three countries have taken pains to reinforce dispute settlement’s credibility, with proceedings being managed professionally and generally in a timely fashion.
At this juncture, all three nations need to show the world we are following the rules laid out by our agreement and are committed to making North America a “zone of predictability.” This will require flexibility in sensitive sectors from autos to agriculture to energy, where Mexico’s policies not only contravene agreed obligations but make energy supply and prices uncertain.
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