U.S. Trade Representative Robert Lighthizer has stated all U.S. trade agreements in central and south American need to be “modernized”. That will likely act as a warning of renegotiations to come. They’ll probably be more like the KORUS talks rather than the NAFTA-style full-blown reviews. The statement precedes the October 29 publication of a review of the performance of all U.S. trade agreements. The main metric for that report will likely be the impact on the U.S. trade deficit. In that regard only the deal with Panama has “failed” since its inception. Its trade surplus vs. t...