The United States has officially indicated its desire to renegotiate the North American Free Trade Agreement, triggering a 90-day consultation window before formal talks begin.
The clock was set ticking this morning in a letter from U.S. Trade Rep. Robert Lighthizer.
U.S. Commerce Secretary Wilbur Ross says he is putting Congress and trading partners on notice that ``free and fair'' trade is the new standard in the U.S.
He says the U.S. manufacturing industry has been decimated by NAFTA, a deal the White House considers deeply unfair.
During the presidential campaign, Donald Trump called NAFTA ``a disaster.''
Last month, White House aides indicated he was ready to pull out of the agreement, but within hours, the president reversed course, saying he'd seek a better deal first.
Lighthizer says the U.S. is going to give renegotiation ``a good strong shot,'' saying the 23-year-old agreement needs to better protect American factory workers and to reflect new technologies.