As the Trump administration considers strategies for modernizing U.S. trade policy, BAFT — ABA’s global transaction banking subsidiary — wrote to policymakers outlining several priorities to promote free and fair trade and increase economic growth and job creation. The letter came as the U.S., Canada and Mexico prepare to begin the process of modernizing the North American Free Trade Agreement later this week.
BAFT encouraged the administration to emphasize increasing exports without harming competitive access to imports, ensuring that the service sector can continue to thrive and improving access to trade finance for companies that rely on it to grow. In addition to trade negotiations with other countries, the U.S. should also focus on building domestic programs that educate and prepare U.S. workers for employment in emerging growth industries and training companies of all sizes to capitalize on the opportunities afforded by global trade, BAFT said. For more information, contact BAFT’s Diana Rodriguez.