Trump says will formally terminate NAFTA soon

Jeannie Matthews
December 5, 2018

He stated legislators can select in between the United States-Mexico-Canada Arrangement or " pre-NAFTA, which functions extremely well".

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.

'We get rid of NAFTA.

Nevertheless, Canada isn't assuming ratification will be easy.

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.

U.S. president Donald Trump said Saturday he would soon notify Congress that he planned to end the NAFTA agreement with Mexico and Canada in favor of a new regional trade deal, setting up a potential clash on Capitol Hill.

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US President Donald Trump said on Saturday he will give formal notice to the US Congress in the near future to terminate the North American Free Trade Agreement, giving six months for lawmakers to approve a new trade deal signed on Friday.

"The new agreement lifts the risk of serious economic uncertainty that lingers throughout the trade renegotiation process - uncertainty that would have only gotten worse and more damaging had we not reached a new NAFTA", Trudeau said.

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

"I think he's trying to light a fire under Congress - that's my guess, my hunch", Kudlow told a conference call with reporters.

The signing of the trade agreement is largely ceremonial as it will need to be ratified by all three countries before it can formally take effect. "And we're rolling. Congress, on the other hand, is not rolling, and I think President Trump's intent here was to light a fire under Congress".

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