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

The leaders of Mexico the United States and Canada sign the

The leaders of Mexico the United States and Canada sign the"new NAFTA in Argentina

On the plane ride back from the G20 summit, President Donald Trump said he would withdraw from NAFTA, the North American Free Trade Agreement, which still governs business among Mexico, the us and Canada despite the countries signing the USMCA deal at the summit, the New York Times reports.

"I will be formally terminating NAFTA shortly".

Last week the United States, Canada and Mexico signed the USMCA.

Trump has made renegotiating NAFTA a centrepiece of his presidency.

Trump, for example, wrote in a Twitter post Sunday night that China had agreed to "reduce and remove" all tariffs on US auto imports, a change that could have major implications for American companies shipping cars overseas.

"President Xi, in a wonderful humanitarian gesture, has agreed to designate Fentanyl as a Controlled Substance, meaning that people selling Fentanyl to the United States will be subject to China's maximum penalty under the law", White House Press Secretary Sarah Sanders said in a statement.

Move design to pressure Congress to approve new deal.

The original NAFTA deal was signed in 1992 by former President George H.W. Bush.

Dramatic pictures show earthquake's path of destruction in Alaska
Alaska Governor Bill Walker told CBS News on Friday night that the state was just beginning to evaluate the extent of the damage. It had lasted several minutes and caused a destructive tidal wave across the entire West Coast, totaling some 130 casualties.

Meanwhile, a number of lawmakers and business groups are trying to push for the removal of US tariffs on steel and aluminum imports from Canada and Mexico, which have inflicted harm upon American manufacturers and consumers, raising costs for a wide array of industries. In interviews over the weekend, Brown has said the new agreement needs to have stronger labor standards and protections against outsourcing. I think everyone, almost everybody, whether they have an R or a D after their name, realizes this is important for the economy and certainly for trucking.

If the president follows through on his threat, congressional leaders will have six months to pass the measure.

"We get rid of NAFTA".

"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".

USMCA will govern more than $1tn worth of trade between the countries.

Democratic leader Nancy Pelosi, of California, said she is not yet ready to judge the new trade deal but was dismissive of it. "But what isn't in it yet is enough enforcement reassurances regarding provisions that relate to workers and to the environment", she said.

He stated legislators can select in between the United States-Mexico-Canada Arrangement or " pre-NAFTA, which functions extremely well". Senator Marco Rubio of Florida tweeted on Friday that the deal as drafted would put Florida's seasonal vegetable growers "out of business".

Recommended News

  • Ebola outbreak in east Congo now world's second biggest

    Ebola outbreak in east Congo now world's second biggest

    The world's worst outbreak, which lasted from 2014 to 2016, killed more than 11,000 people in Liberia, Guinea and Sierra Leone. The U.S. experts have been sidelined for weeks, ordered away from the region due to State Department security concerns.
    Jose Mourinho labels Paul Pogba a 'virus' in dressing room row

    Jose Mourinho labels Paul Pogba a 'virus' in dressing room row

    Pogba was restored to United's starting XI amid an injury crisis having been dropped for the Champions League win over Young Boys in midweek.
    Huddersfield school refugee's sister 'also attacked'

    Huddersfield school refugee's sister 'also attacked'

    A spokesperson for West Yorkshire police said the 16-year-old boy had been interviewed and reported for summons for an offence of assault.
  • Louis Riddick | SportsCenter: Kareem Hunt's release a result of 'choices people make

    Louis Riddick | SportsCenter: Kareem Hunt's release a result of 'choices people make

    The footage from a Cleveland hotel security camera showed Hunt shoving and kicking a woman , with police ultimately responding. If no team claims him, he will enter free agency. "I made a bad decision at that time and I just hope that people forgive me".
    Trump barrels into G-20 summit after nixing Putin meeting

    Trump barrels into G-20 summit after nixing Putin meeting

    And while we don't know the final details of the USMCA, we do know that it largely resembles, in many ways, what was there before. On Thursday, as Trump was leaving Washington for Argentina, his former attorney and fixer, Michael D.
    The G20 Summit: Key meetings and moments

    The G20 Summit: Key meetings and moments

    President Donald Trump and Chinese President Xi Jinping are slated to hold their first face-to-face talks since November 2017. He said China wanted to make a deal but he wasn't sure that he did. "Way, way, way above my pay grade", he said.
  • Netflix Reveals ‘Friends’ Will Be There For You Until 2020

    Netflix Reveals ‘Friends’ Will Be There For You Until 2020

    In a statement posted on Twitter, Netflix confirmed Friends will remain available to stream in the USA through the end of 2019. So get your last binge of all ten seasons of Friends in now, because we don't know when it will be back.
    Israeli PM Netanyahu should be charged with bribery

    Israeli PM Netanyahu should be charged with bribery

    The prime minister has denied any wrongdoing, dismissing the accusations as a witch hunt orchestrated by the media. Netanyahu has been prime minister for a total of more than 12 years, from 1996 to 1999 and again since 2009.
    The oil price is updated at least October 2017

    The oil price is updated at least October 2017

    Futures in NY are set to drop about 21 per cent in November, falling for a second month. Brent crude futures traded up $1.24, or 2.1 percent, at $60.02 a barrel by 11:43 a.m.
  • Trump, Xi chew over trade war at high-stakes dinner

    Trump, Xi chew over trade war at high-stakes dinner

    Trump has weathered fierce criticism of his use of tariffs to force China to deal, including from the Business Roundtable. The biggest headline is that both sides have agreed to temporarily hold off on the implementation of new tariffs.
    England women fly into Sevens quarter finals

    England women fly into Sevens quarter finals

    The US against France makes up the fourth quarter-final, with the semi-finals and final to be played tomorrow as well. A top-four finish in the overall standings this season means automatic qualification for the 2020 Olympics.
    2.0 (Hindi) stars well, stability today is the key

    2.0 (Hindi) stars well, stability today is the key

    The Rajinikanth and Akshay Kumar starrer that has released in over 10,500 screens has opened to packed houses across the globe. This makes it the biggest opener ever after Baahubali: The Conclusion, which earned over Rs 150 crore.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.