Donohue Sets the Record Straight on NAFTA

Previews North American Leaders' Summit, Addresses Economic, Security Benefits Between Countries

WASHINGTON, D.C.-In a preview of next week's North American Leaders' Summit, U.S. Chamber of Commerce President and CEO Tom Donohue pressed back against recent rhetoric on the North American Free Trade Agreement (NAFTA) today by outlining the economic and security benefits of open trade between the U.S., Canada, and Mexico.

"A weakening economy is making trade a convenient scapegoat for every economic ill," Donohue said. "Yet while exports are holding the economy afloat, the political rhetoric continues about renegotiating NAFTA. Reopening NAFTA would not only have potentially devastating economic consequences, it would violate the principles we've signed on to with two of our closest allies and neighbors."

On April 22, Donohue and other members of the North American Competitiveness Council (NACC) will meet with President George W. Bush, Canadian Prime Minister Stephen Harper, and Mexican President Felipe Calderon in New Orleans to discuss the opportunities and challenges facing the countries. The meeting will take place in the context of the North American Leaders' Summit, the fourth such meeting between the countries since 2005 when the Security and Prosperity Partnership of North America (SPP) was launched to increase security and enhance prosperity between the countries.

"As globalization expands and the U.S. economy faces strong headwinds, this is a critical time to explore ways of improving North America's competitive position in the world," Donohue said.

"The isolationist rhetoric coming from the campaign trail and Congress hanging a 'do not disturb' sign on the door when it comes to expanding trade, does nothing to create new jobs for Americans."

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

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