ibusinesslines.com March 20, 2018

Trump agrees to renegotiate NAFTA with Canada, Mexico leaders

27 April 2017, 03:50 | Laverne Osborne

Trump agrees to renegotiate NAFTA with Canada, Mexico leaders

President Donald Trump and Vice President Mike Pence walk to the Eisenhower Executive Office Building on the White House complex in Washington Wednesday April 26 2017 for a meeting with Senators to discuss the Koreas

The White House made the surprise announcement in a read-out of calls Wednesday between the world leaders.

Some of Trump's advisers wanted a dramatic move before Trump's 100th day in office on Saturday to fulfill a key campaign promise, while others said he could let the milestone pass and revisit the issue later through more formal procedures, according to two White House officials who spoke on condition of anonymity to discuss internal deliberations.

Us President Donald Trump "agreed not to terminate Nafta at this time and the leaders agreed to proceed swiftly.to enable the renegotiation of the Nafta deal", a statement said.

Trump had threatened to renegotiate the NAFTA pact during the election campaign as he said it had destroyed American jobs, although he has backed off tough action in trade since taking office in January.

After months of relative quiet on NAFTA and Mexico on the part of the Trump administration, the Washington Post reported Wednesday that the president may be poised to sign a document signaling his intent to pull the United States out of the 23-year old trade pact within six months.

White House Press Secretary Sean Spicer declined to comment on the order, which was first reported by Politico. Under the joint treaty, US trade along with the two countries have supported over 140,000 small to medium sized businesses. And it is unclear what would happen next.

U.S. Commerce Secretary Wilbur Ross on Monday announced tariffs on Canadian lumber exports, which U.S. producers complain are unfairly subsidized. Mr. Trump has also been railing against changes in Canadian milk product pricing that he says are hurting the American dairy industry.

"It is my privilege to bring NAFTA up to date through renegotiation", Trump said in a written statement that accompanied the readout of his phone calls.

The White House says the president "agreed not to terminate NAFTA at this time".

"I am very upset with NAFTA".

Trump's top advisers had been embroiled in a debate over how aggressively to proceed on reshaping USA participation in Nafta, with hard-liners favoring a threatened withdrawal as soon as this week and others advocating for a more measured approach to reopening negotiations with Canada and Mexico.

Over 30 of the 50 American states' top two largest exporting markets are either Mexico or Canada, according to the Office of the United States Trade Representative. That person also spoke on condition of anonymity to discuss the administration's thinking.

The Trump administration last month submitted a vague set of guidelines to Congress for renegotiating NAFTA, disappointing those who were expecting Trump to demand a major overhaul.

Reports today of the possible move drew objections from some in Congress, including Sen.

The softwood spat is unfolding amid a much bigger trade issue — renegotiation of the North American Free Trade Agreement.

And Sen. John McCain on Wednesday urged Trump not to pull the United States from NAFTA.

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