The Trump administration has decided not to renew the United States-Mexico-Canada Agreement in its “current form,” but will continue holding discussions with neighboring countries to address so-called “shortcomings” in the trade deal. Key sticking points appear to include trade deficits and part content increases as well as a desire for a new agreement that favors America.

 

That’s likely a tough sell for Canada and Mexico, but Ford CEO Jim Farley is already hoping a new deal will screw over rivals. Speaking to CNBC, the executive said “It’s imperative that any new agreement makes it easier, not harder, to compete with U.S. makers who import from Japan, South Korea and global competitors that import from those locations.”