Donald Trump says he'll terminate Nafta

Donald Trump says he'll terminate Nafta

Donald Trump says he'll terminate Nafta

The U.S. president made his latest pledge to terminate the 24-year-old trilateral pact as he was preparing to leave the G20 summit in Buenos Aires, an event that included the ceremonial signing of the new United States Mexico Canada Agreement (USMCA).

The leaders of Mexico, the United States and Canada sign the "new" NAFTA in Argentina.

Democrats mulling presidential runs in 2020, as well as labor and environmental groups, were already gearing up for a showdown with Trump over trade, and the revised North American Free Trade Agreement (NAFTA) will give them an opening for a new line of attack.

"We remain concerned that the continued imposition of steel and aluminum tariffs on Canada and Mexico will undermine the benefits of the USMCA", he added.

Democrats want a trade bill that strengthen protections for American workers in the wake of lower-cost options overseas, particularly in the wake of General Motor's announcement to shutter five USA factories. "I will only support this new deal if we can make it a better deal for Wisconsin farmers, manufacturers, businesses and workers". U.S. Trade Representative Robert Lighthizer, an architect of the deal, is open to changes, but only to a point. "It goes down, certainly - if it happens, it goes down as one of the largest deals ever made", Trump said. The remarks came after he had formally signed a new version of NAFTA with leaders from Mexico and Canada. U.S. Ag Secretary Sonny Perdue says the agreement secures greater access to the Mexican and Canadian markets and lowered barriers for many American products.

What has Congress said about this?

"We look forward to working with Congress to get USMCA passed into law as quickly as possible".

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Trump said the extension gives him and Chinese President Xi Jinping additional time to negotiate.

The president also mentioned that he would hold off for a bit at the request of Congress due to President George H.W. Bush's passing.

Nancy Pelosi, the frontrunner to regain her position as Speaker of the House, on Friday called the deal a "work in progress".

The agreement does include a 16-year sunset provision, but the three countries will meet every six years to decide whether to renew the pact, which potentially keeps the agreement going in perpetuity.

"What isn't in it yet are enough enforcement reassurances regarding workers" and the environment, she told a press conference. It's been a disaster for the United States. Senator Marco Rubio of Florida tweeted on Friday that the deal as drafted would put Florida's seasonal vegetable growers "out of business".

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