Trump Renegotiates Trade Deal with Mexico, Canada

The leaders of Mexico the United States and Canada sign the

U.S. President Donald Trump says he intends to tell Congress that he plans to terminate NAFTA in an effort to pressure lawmakers on Capitol Hill to approve its recently negotiated successor.

"I will be formally terminating NAFTA shortly", the president said.

Mexico's Enrique Pena Nieto (left), President Donald Trump and Canadian Prime Minister Justin Trudeau sign the United States-Mexico-Canada Agreement.

President Trump is again threatening a pullout of the North American Free Trade Agreement (NAFTA), setting up a congressional showdown with the incoming Democrat-led House of Representatives. Though the CUSFTA did not include rules on intellectual property nor the specific commitments on investment and services contained in NAFTA, it did allow for tariff-free access to the USA market.

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The new deal got early backing from one key figure in the debate: Republican Senator Chuck Grassley of Iowa, who beginning in January will chair the Senate Finance Committee that will consider the pact. "I will only support this new deal if we can make it a better deal for Wisconsin farmers, manufacturers, businesses and workers".

The president also said that China would buy massive amounts of agricultural products from the USA and that Xi agreed to make criminal opioid exportation one of the hardest-punished crimes in the country.

"Today's signing comes after two years of pointless uncertainty and reckless threats to NAFTA from the Trump administration, which raised roadblocks to investment and economic progress across New Mexico". The U.S. can tuck some changes into the trade deal's implementing legislation and request that Mexico and Canada go along with it.

Some Republicans say they, too, are disinclined to support the agreement in its current form.

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Such a step could be complicated and could require China to remove tariffs on auto imports from any country to comply with global trade rules. NFU president Roger Johnson wants changes before Congress ratifies the agreement.

"As a result, I owe it to New Mexicans to apply the highest level of scrutiny to this agreement to make sure that our border communities won't suffer the consequences of the administration's flawed negotiations".

"We had an exchange of notes with the Americans that said if something happens with the NAFTA, the FTA would come back into being", said John Weekes, Canada's chief negotiator on the original deal.

"What isn't in it yet are enough enforcement reassurances regarding workers" and the environment, she told a press conference. The United States should protect its sovereignty over the interests of other countries.

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