President Trump has often denounced the North American Free Trade Agreement (NAFTA) as “the worst trade deal ever made” by the United States.
But – that is all about to end.
His criticisms of NAFTA will be no more because NAFTA will be no more.
During a conference on Monday morning, Trump announced he will be “terminating” NAFTA and instead will be pursuing a standalone deal with Mexico.
BREAKING: Trump says he’ll be ‘terminating’ NAFTA as he pursues trade deal with Mexico, starts negotiations with Canada
— AP Politics (@AP_Politics) August 27, 2018
Per Fox News:
President Trump on Monday announced a tentative trade deal between the United States and Mexico that could lead to an overhaul of the North American Free Trade Agreement.
“It’s a big day for trade,” the president said in the Oval Office. “It’s a big day for our country.”
The two countries have been working to resolve key differences on issues ranging from automobiles to energy.
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If an agreement with the U.S. and Mexico is finalized, the third country in NAFTA — Canada — would be brought back in to finalize a revamp of the 24-year-old pact. But Trump said Monday “we’ll see” if Canada can be part of this deal, leaving open the possibility of separate deals.
Over the last several months, Canadian Prime Minister Justin Trudeau has criticized Trump on a number of issues, from trade to immigration. Trudeau has especially knocked Trump’s view of NAFTA and has said he wished to keep the trade agreement in place. As the Washington Post reports, Trudeau said he would reject any negotiations with the United States to change NAFTA.
Now it looks like he has no choice, should he want a trade agreement.
BREAKING: Trump says he’s terminating NAFTA and entering a different deal with Mexico, and possibly Canada if they want to negotiate “fairly.” If not, he says he put tariffs on Canada’s cars. pic.twitter.com/MD0ossKsUE
— Jennifer Jacobs (@JenniferJJacobs) August 27, 2018
Here’s more from Fox News:
“Canada is encouraged by the continued optimism shown by our negotiating partners,” a spokesman for Canada’s minister of foreign affair, Chrystia Freeland, said Monday. “Progress between Mexico and the United States is a necessary requirement for any renewed NAFTA agreement.”
On Monday, Trump said he wanted to get rid of the name “NAFTA” because it has bad connotations. During the 2016 presidential campaign, Trump often railed against the trade pact as “the worst trade deal maybe ever signed anywhere.”
Our relationship with Mexico is getting closer by the hour. Some really good people within both the new and old government, and all working closely together….A big Trade Agreement with Mexico could be happening soon!
— Donald J. Trump (@realDonaldTrump) August 25, 2018
A big deal looking good with Mexico!
— Donald J. Trump (@realDonaldTrump) August 27, 2018
Here’s even more:
Trump and Mexican President Enrique Peña Nieto have been working for the past five weeks to iron out their bilateral differences so Canada can rejoin the talks to update NAFTA. Both countries want to finalize an agreement this month so that it can be signed ahead of Mexican President-elect Andrés Manuel López Obrador’s inauguration in December.
One of the biggest issues on the negotiating table deals with car manufacturing jobs, as the Trump administration pushes for a deal that would boost factory employment in the U.S.
WATCH: Pres. Trump speaks to the President of Mexico on the speaker phone as part trade announcement at the White House. https://t.co/1299qHE630
— ABC News (@ABC) August 27, 2018