NAFTA negotiations: Donald Trump considers terminating deal

29 August, 2017, 00:40 | Author: Ora Austin
  • NAFTA negotiations: Donald Trump considers terminating deal

President Donald Trump on Sunday said both Mexico and Canada are being "very difficult" regarding the North American Free Trade Agreement (NAFTA) renegotiation process.

Mexico responded to say they wouldn't negotiate via social media but both Canada and Mexico have rejected U.S. demands for more United States content in manufactured goods and dismantling of the Chapter 19 dispute settlement system.

Eric Farnsworth: The President´s renewed tweeting about NAFTA threatens to upend negotiations that began in Washington on August 16.

At a rally this week in Phoenix, Trump said he would "end up probably terminating" Nafta "at some point".

Trump, a Republican, promised during his campaign to overhaul or eliminate the North American Free Trade Agreement, which he cast as killing jobs and exacerbating the USA deficit, and to adopt a more protectionist stance for trade generally.

PM Modi announces Rs.500 cr as relief for flood-hit Bihar
He also directed the road and surface transport ministry to take effective steps for the fix of roads damaged by the flood. The floods in the State have affected over one crore seventy lakh people and the death toll has mounted to 415.

"As we said last week, trade negotiations often have moments of heated rhetoric", said the statement attributed to Canadian Foreign Minister Chrystia Freeland.

Trump promised repeatedly during the 2016 election campaign that he would scrap the 1994 free-trade agreement if he could not renegotiate its terms to better advantage. "I am willing to say that we will work it out, but that means it will come out in the wash and that is okay".

Trump was at Camp David, the presidential retreat in Maryland. "Exiting the agreement would be terribly destructive to the US economy". "You have to wait a long time" for the process to play out, he said. "You're in good hands, I can tell you".

The three countries will hold a five-day round of negotiations on first September to rewrite the 23-year-old agreement. Despite the president's reputation for shooting from the hip, Taylor said his remarks need to be taken seriously.

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