ibusinesslines.com
ibusinesslines.com December 18, 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.



Other News

Trending Now

Asian shares retreat from highs after Trump tax plan
That growth, in turn, would prevent the plan from leaving the federal government short trillions of dollars of tax revenue. Stocks have been lifted by investor anticipation of big tax cuts as well as Trump's vow to cut red tape for businesses.

Jury gives death penalty to PA ambush killer
Frein's defense team argued their case for a life sentence by presenting mitigating circumstances to lessen Frein's culpability. His lawyers did not contest his guilt, focusing their efforts on trying to save his life during the penalty phase of the trial.

'Better Than Anticipated': Trump on Results of Tillerson's Visit to Russian Federation
Rex Tillerson and Sergei Lavrov met in Moscow on Wednesday. "There is a low level of trust between our two countries", he said. Never mind that Obama ultimately agreed with Trump about the risks of involving the U.S.in yet another Middle Eastern war.

Google tests 'Copyless Paste' in Chrome for Android
After users get the Chrome 58 installed in their Android devices, they will be able to use this new feature on the Downloads page. Chrome for Android is quick to use and pages look good and there are a couple of interesting way to interact with your browser.

DOE Allows US LNG Exports to Non-FTA Countries Amid Output Hike
USA exports are expected to reach 8.1 Bcf/d by 2022, with the USA rising to around 17% of the global LNG market. Cheniere Energy began exporting a year ago from its Sabine Pass terminal in Louisiana.

GOP rep doesn't expect a literal border wall
"Our appropriators are working in good faith toward a bipartisan proposal to keep government open". Republicans, meanwhile, expressed confidence Congress would avoid a shutdown.

Views on Russian influence reflect partisan finger-pointing
The ABC News/Washington Post poll surveyed 1,004 adults via phone interviews from April 17-20. Results have a margin of error of plus or minus 3.5 percentage points.