- President Donald Trump said he would terminate the North American Free Trade Agreement (NAFTA) in the coming days.
- The move appears to be a ploy to force Congress to pass Trump’s update to the NAFTA agreement, the US-Mexico-Canada Agreement (USMCA).
- Both Democrats and Republicans have raised concerns with the USMCA.
- But such a move would face legal challenges, and the likelihood of a NAFTA withdrawal is low.
Facing the possibility of an arduous and difficult approval process for a new trade deal with Mexico and Canada, President Donald Trump hinted he would attempt to force Congress’ hand.
Trump on Saturday threatened to begin the formal process to pull the US out of the existing North American Free Trade Agreement (NAFTA), a move that would be designed to give Congress little option but to approve the US-Mexico-Canada Agreement (USMCA).See the rest of the story at Business Insider
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See Also:
- The US-China trade war might still rage on despite a breakthrough deal between Trump and Xi
- The US, Canada, and Mexico’s newly signed trade pact looks a lot like NAFTA. Here are the key differences between them.
- Trump just sealed the landmark trade deal with Mexico and Canada, but there’s still a long road toward victory
