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President Trump Formally Cancel NAFTA With a ‘New Trade Deal’

05 December, 2018, 05:37 | Author: Lawrence Cooper
  • Trump-Imposes-Six-Month-Deadline-On-Congress-For-NAFTA-Substitute

Last week the United States, Canada and Mexico signed the USMCA.

By the time Donald Trump's implementing legislation and that's the key here, is introduced into the Congress, you'll have a Democratic majority in the House of Representatives and that's a shift as a result of the November elections.

"It helped us get to where we are", MacNaughton said at a Public Policy Forum dinner in Ottawa. MacNaughton said Canadian diplomats will rev up their machine to lobby members of Congress for their support.

President Donald Trump told reporters aboard Air Force One after the G-20 summit in Argentina that he will formally notify Congress of the termination of the North American Free Trade Agreement (NAFTA) in the "near future", according to a Dow Jones Newswires report made available to Efe on Sunday. CTV reported that a Canadian official said an advantage to signing onto the agreement now is an auto side letter exempting Canada of potential tariffs on exports of up to 2.6 million vehicles, above current levels.

And there remains the matter of crippling tariffs on steel and aluminum the Trump administration imposed on imports from Canada, ostensibly for national-security reasons, while the treaty negotiations were on.

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That would trigger a six-month waiting period before the U.S. could leave the pact - during that time, USA lawmakers would be asked to approve the new deal signed on Friday with America's neighbors.

"We take everything seriously", Morneau said when asked whether he took the president's comments at face value.

But Morneau told a gathering in NY today he had no insight into when that might happen.

'That'll be terminated so Congress will have a choice of the USMCA or pre-NAFTA, which worked very well, ' the Republican president said. Everybody showed up. Trudeau showed up and so forth.

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