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Donald Trump vows to ‘terminate’ NAFTA if negotiations fail

LiveMint logoLiveMint 26-07-2017 AFP

Struthers: US President Donald Trump vowed to rip up a free trade deal with Canada and Mexico if the text is not renegotiated to his liking.

“We are renegotiating NAFTA and if we don’t get the deal we want, we’ll terminate NAFTA,” Trump told a group of veterans in Ohio, the centre of America’s industrial heartland.“NAFTA has been a disaster for Youngstown, it’s been a disaster for Ohio.”

Trump made scrapping the North American Free Trade Agreement (NAFTA) a pillar of his presidential campaign, but has since softened his stance slightly.

Earlier this month, his administration began the process of renegotiating the 23-year-old deal, which Trump says is not fair to American workers.

The former businessman has made reforming America’s economy a centrepiece of his brand.

His timing has been auspicious, entering office after the recovery from the Great Recession was well entrenched and with the labour market approaching full employment.

“Jobs are the best they have been in 17 years, the stock market hit another all time high today, we’re doing trade deals,” he said, marking that progress.

“People are coming back, if you look at Ohio, if you look at Michigan and other places the auto industry is starting to come back in a very, very big way.”

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