Economy

Trump's new NAFTA faces uphill battle in Congress

Trump's new NAFTA faces uphill battle in Congress”

On the plane ride back from the G20 summit, President Donald Trump said he would withdraw from NAFTA, the North American Free Trade Agreement, which still governs business among Mexico, the USA and Canada despite the countries signing the USMCA deal at the summit, the New York Times reports.

Speaking to reporters aboard Air Force One while returning to Washington from Argentina, Trump said: "I will be formally terminating Nafta shortly".

Trump, Canadian Prime Minister Justin Trudeau and just-departed Mexican president Enrique Peña Nieto signed the NAFTA replacement at a ceremony - during the recent G20 Summit. Sherrod Brown said the U.S. needs to reopen discussions with Mexico and Canada on trade, rejecting President Donald Trump's contention that their new trade agreement is final.

"President Donald Trump and Secretary Sonny Perdue have done a great service for all Americans in getting this done", he noted "It's exactly what President Trump set out to do with revising these trade deals and making them even better". During this period, Congress will be required to make the choice of whether or not to accept the new deal.

AP via CP Former President of Mexico Enrique Pena Nieto, left, U.S. President Donald Trump, and Prime Minister Justin Trudeau, participate in the USMCA signing ceremony, November 30, 2018 in Buenos Aires, Argentina.

"We get rid of NAFTA". I understand the president said it's final.

The North American Free Trade Agreement went into effect on 1 January 1994 in order to establish a trilateral trade bloc in North America.

The United Auto Workers, a longtime critic of NAFTA, raised similar concerns after the ceremonial signing of the trade pact in Buenos Aires.

Like Trump, Democrats from industrial areas in the Midwest have traditionally opposed NAFTA and have now gained more influence in Congress and with Trump's help, for the first time in more than 25 years actually are in a position to kill the trade pact that has always been opposed by American trade unions, such as the United Auto Workers. Since Democrats now control the House of Representatives, their support will be crucial for the USMCA to get Congressional approval.



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