United States has been on 'wrong side' of NAFTA for 'many, many' years

United States has been on 'wrong side' of NAFTA for 'many, many' years

On Thursday, Trump hinted that economic disruption was another reason for not announcing a US pullout from NAFTA.

So, if you don't like the way Trump appears to be heading on an issue, call him up.

While campaigning for president, Trump slammed NAFTA as a "disaster" and the "worst trade deal in history". There's little doubt that thousands of onetime laborers and factory workers took to heart Trump's promise to repeal or at least renegotiate the trade pact with more favorable terms for America, and those votes may have made the difference in states like Pennsylvania, Michigan and Wisconsin.

Twice over a 24-hour period, Canadian Prime Minister Justin Trudeau reached out to Trump by telephone to extoll the virtues of NAFTA and warn that its demise would lead to massive job losses in both countries.

The Conservative MP, a vice-chairman of the Canada-United States Inter-Parliamentary Group, said the many years he and other Canadian politicians have spent building relationships with members of Congress contributed to Trump's reversal on scrapping NAFTA.

While the dairy industry is by far the smallest in Trump's sights, Burney said no matter the industry, Canada should not be so eager to offer appeasement in the form of renegotiating NAFTA.

"I was all set to terminate", Trump told The Washington Post. The U.S. dollar, on the other hand, fell marginally against the Mexican peso and the Canadian dollar.

Ottawa needs to redouble its efforts to maintain good relationships with American legislators in the wake of this week's events, added Brown. Stocks in both US neighbors also weakened, with Mexico's benchmark IPC index falling more than 1 percent in 15 minutes. NAFTA removed most trade and tariff barriers between the neighbors, but Trump and other critics have blamed it for deep USA job cuts.

He added that if the NAFTA negotiations "become unserious, I will terminate".

Its only reference to withdrawal is a single 34-word sentence, Article 2205, which says: A party may withdraw after providing six months' written notice, which means that any president declaring a pullout would simply be allowed to do it six months later.

The possible executive order, first reported by Politico, sent stocks and currencies falling in Mexico and Canada.

North of the border, Maude Barlow, president of the Council of Canadians, a leftist think tank, noted that "Canada has its own grievances" with its U.S. neighbor and that it was time for Trudeau to stand up for Canadian interests.

JOHN YANG: The move comes as the administration gets tough on trade as it nears the 100-day mark.

American Soybean Association President Ron Moore said, "When you're talking about $3 billion in soybean exports a year, any threats to withdraw from agreements and walk away from markets makes farmers extremely nervous". Those talks will start as soon as today, he said.

The U.S. president has faced a series of setbacks since he took office in January, with courts blocking parts of his orders to limit immigration and the Republican-controlled Congress pulling legislation he backed to overhaul the U.S. healthcare system.

Related:

Comments

Latest news

Ten tips that help to win
Tip # 2 You need to find out as much information as you can on the online casino before you will give away your money. Unlikely you will want to swim in the dark pond if you have no idea what is waiting for you below the surface.

Chrystia Freeland Praises Rex Tillerson's Work On Arctic Climate Change Declaration
The United State chaired the council for the last two years and turned the chairmanship over to Finland on Thursday. Tillerson signed the document. "We're going to work to make the right decision for the United States".

South Korea urges 'parallel' talks, sanctions to rein in North
Seoul and Washington began deploying the Thaad system in March and it has since become operational. Chinese leader Xi Jinping called Moon Thursday to congratulate him on his electoral victory.

Odds and predictions for the Bayern Munich against Gunners
This season he brought 17 goals in the league matches. - Key man for Bayern is probably Robert Lewandowski this season. It will be 16 round of Champions League, and Gunners definitely hope to beat their rivals and make revenge.

Other news