Economy

Canada says it takes Trump's talk of NAFTA withdrawal seriously

Canada says it takes Trump's talk of NAFTA withdrawal seriously

We thank the Office of the U.S. Trade Representative for all the hard work that went into this accord. Crawford said the agreement should be for at least 10 years.

White House and Chinese officials have described the terms of the agreement reached Saturday much differently, and some of the goals are unclear. Trump had been adamant that the tariffs were necessary to encourage investment in American companies. "I commend President Trump and our US Trade Representative, Ambassador Lighthizer, for their perseverance, leadership and hard work". -China truce on tariffs, which the countries announced over the weekend at the G20 summit in Argentina, the Supply Chain Dive reports.

Trump has made renegotiating NAFTA a centerpiece of his presidency. "Democrats were involved from the beginning, the middle and the end", Lighthizer said.

"I think this is just an enormous, enormous event", Kudlow said of the blueprint agreement.

Only a day after signing a new trade agreement with Mexico and Canada, President Donald Trump said he is now free to cancel NAFTA in a move that will create major problems for global automakers.

The outcome is uncertain because of labor, agricultural, manufacturing and environmental concerns raised by a number of lawmakers. A trade agreement is no place for the adoption of social policy. The deal has to be ratified before it can take effect. I think everyone, almost everybody, whether they have an R or a D after their name, realizes this is important for the economy and certainly for trucking.

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The U.S. does about a $1 trillion worth of business each year with the two countries, and Canada (second) and Mexico (third) are America's most significant trade partners. You got out, you negotiate your deals.

Some lawmakers could threaten to block the deal as a way to receive side agreements addressing home state priorities, a tack that has been used before with success.

There's disagreement among experts over whether Trump has the authority to pull out of a trade deal like NAFTA without congressional approval. "Good, here's some things we can improve upon, '" said Hardcastle. "Congress, on the other hand, is not rolling". The President needs to talk to Congress on this.

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But Mr Trump has grown increasingly frustrated with Democrats, telling people in his orbit that he believes they would rather turn their backs on a "great deal" than see him achieve one of his top campaign goals, according to a person who has spoken to the president in the past week.