Trump Threatens to Kill NAFTA - Again

Trump Threatens to Kill NAFTA - Again

Trump Threatens to Kill NAFTA - Again

"Now that the agreement has been signed, the Senate Finance Committee will review it with a fine-tooth comb and have the opportunity to weigh in", Grassley said in a statement.

The U.S. national day of mourning for President George H.W. Bush on Wednesday has delayed the release of public and private economic data as well as widely anticipated testimony to lawmakers by Federal Reserve Chairman Jerome Powell, Bloomberg News reports.

U.S. President Donald Trump says he intends to tell Congress that he plans to terminate NAFTA in an effort to pressure lawmakers on Capitol Hill to approve its recently negotiated successor.

The deal signed Friday already included some tweaks from the one struck two months earlier, changes apparently aimed at wooing congressional support. If Trump pulls out of NAFTA and the House rejects the new pact, it could deal a major blow to North American free trade.

What's more likely is months of political horse-trading as Democrats and Republicans alike make their support contingent on other political initiatives, such as the controversial Deferred Action for Childhood Arrivals policy, which protects illegal immigrants who arrived in the U.S.as children.

Trump added, "This is an unbelievable deal for our farmers". "I think that's how he thinks he's going to whip votes".

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"I look forward to working with members of Congress and the USMCA partners, and I have to say it's been so well reviewed I don't expect to have very much of a problem, to ensure the complete implementation of our agreement". He cited concerns about a provision that might lead to the deal expiring, and new rules he said would limit Mexico's ability to sell cars and auto parts.

What has Congress said about this?

Trump had vowed to revamp NAFTA during his 2016 presidential election campaign.

Nancy Pelosi, the House Democratic leader who is likely to be elected speaker, cast doubt on the likelihood that the deal could be passed without significant new assurances from Mexico that labour standards in the agreement will be strictly enforced. "What isn't in it yet is enough enforcement reassurances regarding workers, provisions that relate to workers and to the environment", she said.

The free-trade leanings of many Republican lawmakers will clearly bump up against their home-state demands. He threatened to tear it up and withdraw the United States completely at times during the negotiation, which would have left trade between the three neighbors in disarray. 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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