President Trump Formally Cancel NAFTA With a ‘New Trade Deal’

President Trump Formally Cancel NAFTA With a ‘New Trade Deal’

President Trump Formally Cancel NAFTA With a ‘New Trade Deal’

President Donald Trump told reporters aboard Air Force One late Saturday night that he and President Xi of China had come to an initial agreement that would be one of the largest deals ever made.

The president also put some pressure on Congress to ratify the U.S. -Mexico-Canada Agreement on trade that was signed by leaders of all three countries during the G20.

Morneau, speaking to a NY event arranged by Politico, also said it was clear that a negotiating process was starting in the United States which he hoped would lead to Congressional ratification of a new pact created to replace the North American Free Trade Agreement.

"We appreciate the administration's continued efforts to modernize our nation's existing trade agreements and help grow USA automotive manufacturing with new agreements like the USMCA", said Matt Blunt, president of the American Automotive Policy Council.

Senator Elizabeth Warren, a Democrat from MA, speaks at American University in Washington, D.C., U.S., on Thursday, Nov. 29, 2018. During this period, Congress will be required to make the choice of whether or not to accept the new deal. We thank the Office of the U.S. Trade Representative for all the hard work that went into this accord.

"President Trump campaigned against the major flaws in worldwide trade agreements that the original NAFTA created the framework for, and rightly so". In interviews over the weekend, Brown has said the new agreement needs to have stronger labor standards and protections against outsourcing.

"Make no mistake, we will stand up for our workers and fight for their families and their communities", he said.

The elimination of both trade deals could expose Canada to more tariffs and import quotas and could send us back to square one with our largest trading partner.

U.S. Rep. Rick Crawford, R-Jonesboro, told Talk Business & Politics he doesn't think the agreement will be decided during the lame duck session of Congress, but it could be considered in the first couple of months after the New Year.

Democratic leader Nancy Pelosi, of California, said she is not yet ready to judge the new trade deal but was dismissive of it. As a senator who represents a border state, I will examine this proposed agreement carefully and work to ensure that it actually benefits New Mexico's workers, environment, and border communities as part of a healthy bilateral relationship with Mexico.

"As now drafted this deal will put Florida seasonal vegetable growers out of business", Rubio wrote.

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