Trump to Sign Executive Order on Plan to Renegotiate NAFTA With Mexico, Canada

[Valin]

CNBC:

Kristen Walker

Jan 23 2017

 

President Donald Trump is expected to sign an executive order as early as Monday stating his intention to renegotiate the free trade agreement between the United States, Canada and Mexico, a White House official told NBC News.

 

Eliminating the North American Free Trade Agreement (NAFTA), which was crafted by former President Bill Clinton and enacted in 1994, was a frequent Trump campaign promise.

 

The deal was intended to eliminate most trade tariffs between the three nations, increase investment and tighten protection and enforcement of intellectual property.

 

"We will be starting negotiations having to do with NAFTA," Trump said Sunday at a swearing-in ceremony for his top White House advisers. "We are going to start renegotiating on NAFTA, on immigration and on security at the border."

 

U.S. manufacturing exports to Canada and Mexico, the United States' two largest export markets, increased 258 percent under the agreement, according to the website of outgoing U.S. Trade Representative Michael Froman, and the deal helped create a trade surplus in agriculture and manufactured goods.

 

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[Valin]

Related

Jake Tapper Verified account ‏@jaketapper

Sr WH official: POTUS's first executive action on Monday will be to withdraw from the Trans-Pacific Partnership, per @JDiamond1

 

4:47 AM - 23 Jan 2017

[Valin]

Trade Deals Working For All Americans

For too long, Americans have been forced to accept trade deals that put the interests of insiders and the Washington elite over the hard-working men and women of this country. As a result, blue-collar towns and cities have watched their factories close and good-paying jobs move overseas, while Americans face a mounting trade deficit and a devastated manufacturing base.

With a lifetime of negotiating experience, the President understands how critical it is to put American workers and businesses first when it comes to trade. With tough and fair agreements, international trade can be used to grow our economy, return millions of jobs to America’s shores, and revitalize our nation’s suffering communities.

This strategy starts by withdrawing from the Trans-Pacific Partnership and making certain that any new trade deals are in the interests of American workers. President Trump is committed to renegotiating NAFTA. If our partners refuse a renegotiation that gives American workers a fair deal, then the President will give notice of the United States’ intent to withdraw from NAFTA.

In addition to rejecting and reworking failed trade deals, the United States will crack down on those nations that violate trade agreements and harm American workers in the process. The President will direct the Commerce Secretary to identify all trade violations and to use every tool at the federal government’s disposal to end these abuses.

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