NO MORE NAFTA
NO MORE NAFTA
By now - you probably know President Donald Trump announced the U.S. and Mexico have reached a new trade deal.
The two sides have been working to renegotiate NAFTA, which President Trump did not speak well of in an announcement at the White House.
Trump said the NAFTA name will be scrapped and replaced...
"It's a big day for trade, big day for our country. A lot of people thought we'd never get here, because we all negotiate tough. We do; so does Mexico.
And this is a tremendous thing. This has to do -- they used to call it NAFTA. We're going to call it the United States-Mexico Trade Agreement, and we'll get rid of the name NAFTA. Has a bad connotation, because the United States was hurt very badly by NAFTA for many years. And now it's a really good deal for both countries, and we look very much forward to it."
NAFTA, the North American Free Trade Agreement, was negotiated during the Clinton administration. The President says the new deal is more mutually beneficial...and something US Farmers will like.
"But it's been a long time. And this is something that's very special for our manufacturers and for our farmers, from both countries, for all of the people that work for jobs. It's also great trade, and it -- it makes it a much more fair bill, and we are very, very excited about it."
Trump said negotiations with Canada will start soon.
"Canada will start negotiations shortly. I'll be calling the prime minister very soon, and we'll start negotiation. And if they'd like to negotiate fairly, we'll -- we'll do that.
You know, they have tariffs of almost 300 percent on some of our dairy products, so we can't have that. We're not going to stand for that.
I think with Canada, frankly, the easiest thing we can do is to tariff their cars coming in. It's a tremendous amount of money, and it's a very simple negotiation. It could end in one day, and we'd take in a lot of money the following day.
But I think we'll give them a chance to probably have a separate deal. We could have a separate deal or we could put it into this deal.
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Canada was part of NAFTA but is not involved in the current deal with Mexico. No word on what a potential deal with Canada would be called.
