ibusinesslines.com September 20, 2018

Trump Tells Canada And Mexico He Will Renegotiate, Not Withdraw From NAFTA

27 April 2017, 03:49 | Erica Roy

Trump Tells Canada And Mexico He Will Renegotiate, Not Withdraw From NAFTA

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

He spoke late on Wednesday afternoon with his two counterparts, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto, according to the White House.

US President Donald Trump has told the leaders of Canada and Mexico he won't withdraw from the North American Free Trade Agreement (NAFTA) "at this time", but will begin renegotiating it with them.

Trump told The Associated Press in an interview last week that he planned to either renegotiate or terminate NAFTA, which he and other critics blame for wiping out US manufacturing jobs because it allowed companies to move factories to Mexico to take advantage of low-wage labor.

"I believe that the end result will make all three countries stronger and better".

The announcement came after White House officials disclosed that Trump and his advisers had been considering issuing an executive order to withdraw the United States from the trade pact with Canada and Mexico, one of the world's biggest trading blocs.

The reversal surprised markets, sending the Mexican peso and Canadian dollar higher after losses earlier this week. Trump railed against the decades-old trade deal during his campaign, describing it as a "disaster".

Trump's decision also followed two developments this week on the North American trade front.

It was under an executive order signed by Trump on January 23 that the United States pulled out of the sweeping Trans-Pacific Partnership trade deal.

Trump has blamed NAFTA for hollowing out America's manufacturing sector by relocating jobs to lower-cost Mexico, which his administration initially said was the main target of changes he was seeking to the accord.

"It hurts us with Canada, and it hurts us with Mexico", he said.

White House Press Secretary Sean Spicer declined to comment on the order, which was first reported by Politico.

During his run for office past year, Trump made his disdain for NAFTA a central component of a populist message created to engender support among working class Americans.

Trump called U.S. District Judge William Orrick's preliminary injunction against his order stripping money from sanctuary cities "ridiculous" on Twitter.

Trump's comments on NAFTA came just days after the United States imposed 20 percent tariffs on softwood lumber coming from Canada.

Canada said it was ready to talk on renewing NAFTA at any time. "Canada is ready to come to the table at any time", said Alex Lawrence, a spokesman for Canadian Foreign Minister Chrystia Freeland.

Other News

Trending Now

Leicester 1-1 Atletico: Reaction from Craig Shakespeare
Their battling display against Atletico, who prevailed 2-1 on aggregate after a 1-1 draw on Tuesday, won them universal praise. Atletico were now content to start counting down the minutes but Leicester refused to accept their journey was nearly over.

David Silva doubtful but Aguero, Jesus ready for Manchester derby: Guardiola
We were not consistent. " People can advise you and do what they can to try and help ", Rashford added. The stakes are high - City is fourth in the English Premier League, just a point ahead of United .

Adrian Peterson signing won't necessarily keep Saints from drafting a running back
Even though he broke the 1,000-yard mark in 2016, something he'd never done before, he was unsurprised that the Saints wanted to make some moves at RB.

Seyfeddin Roustamov: "One of Our Key Objectives Is to Become No 1 in the European Synthetic Resins Market"
In the meantime we constantly look at distribution opportunities and build contacts with a number of US consumers. The Metafrax Company is the largest producer of methanol, formaldehyde and synthetic resins in Russia and Europe.

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.

Who Is Addison On 'Pretty Little Liars'? This Teen Is Causing Trouble
Turns out it's because her old fashion boss, Claudia, had ripped it to shreds (verbally), and Hanna's insecure about it. It was possible Addison was there to set up for a future spinoff - Pretty Little Liars: The Next Generation.

3 Criteria for Choosing Software Development Company in Europe
Pricing vs quality If you’re looking for an outsourcing services partner, prices are one of the features that matter to you. Do you find it difficult to choose a professional software development company in Europe? There shouldn't be any problems.