President Trump said late Saturday that he plans to formally terminate the North American Free Trade Agreement (NAFTA) in an effort to pressure Congress to approve a new trade deal with Canada and Mexico.
“I will be formally terminating NAFTA shortly,” Trump told reporters on Air Force One while returning from the Group of 20 summit in Argentina.
“Then Congress will have a choice of approving the USMCA, which is a phenomenal deal,” he said, referring to the United States-Mexico-Canada Agreement. “Much, much better than NAFTA. A great deal.”
The president also called NAFTA a “disaster” for the U.S. — a description he has used since the presidential campaign.
“It’s caused us tremendous amounts of unemployment and loss and company loss and everything else. That’ll be terminated,” he said. – READ MORE