Leaked Trump draft order blames NAFTA for 'massive' wealth transfer from US

Leaked Trump draft order blames NAFTA for 'massive' wealth transfer from US

The AP reports that both the Mexican and Canadian governments confirmed the conversations had taken place.

"The leaders agreed on the convenience of maintaining the North American Free Trade Agreement and working together with Canada to carry out a successful renegotiation for the benefit of all three countries", the statement read.

It removed tariffs and allows a free flow of goods between the United States, Canada and Mexico.

"Any disruption to the integrated supply chain that has been achieved under NAFTA could challenge the outperformance of the North American auto industry, including the potential job losses for some of the almost 2 million positions at plants in the United States, Canada and Mexico", the report said.

President Donald Trump has been admonished by his supporters due to a bevy of broken campaign promises, but on the crucial issue of trade, he has not wavered.

Another recent example of this phenomenon comes in regard Chinese President Xi Jinping, with whom Trump spent two days at Mar-a-Lago earlier this month.

Canadian Prime Minister Justin Trudeau (left) walks down the West Wing colonnade with US President Donald Trump at the White House in Washington February 13, 2017.

Mr Trump, who will hold a rally in Harrisburg, Pennsylvania on Saturday night to mark passing the 100-days, is also still facing a challenge in averting a government shutdown at the end of the week, with Congress due to pass a number of budget measures by midnight on Friday.




The announcement came after reports in United States media that Mr Trump and his advisers had been considering giving formal notice on a withdrawal from Nafta.

The mere rumour of it happening, floated on Wednesday by the White House, shaved nearly two per cent off the Mexican peso and a third of a cent off the loonie. Trump frequently bashed NAFTA on the campaign trail during the past year. And it is unclear what would happen next. This week the U.S. administration announced it would slap hefty tariffs on softwood lumber being imported from Canada.

In this case, the aim would not be so much to withdraw from NAFTA, which Trump has called a "disaster" for the U.S., but rather to force Mexico and Canada to more fully engage in renegotiating the trade pact. He expressed that, yes, he was very much thinking about cancelling.

Still, the milk fight, while more obscure than other trade disputes facing American exporters, is emblematic of Trump's intent to use any and all leverage in his quest to remake the trade regime and possibly renegotiate some NAFTA terms. He contends that trade deficits and the loss of numerous jobs in the USA are because of NAFTA.

-Canada bilateral meeting at the White House in February. Trump formally withdrew from that trade agreement on his fourth day in office. That person also spoke on condition of anonymity to discuss the administration's thinking.

"But we're going to give renegotiation a good, strong shot", Trump added.

Bob Smith says NAFTA has forced the U.S.to import more goods than it exports.

The letter spelled out few details and stuck with broad principles. He often said he would either "get rid of it" or "terminate it" or "renegotiate" it.

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