Thread: Trump delaying NAFTA deal until after midterm elections

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Trump delaying NAFTA deal until after midterm elections


BERKELEY HEIGHTS, N.J. (AP) — President Donald Trump intends to delay signing a revised version of the North American Free Trade Agreement until after the fall midterm elections, a move aimed at reaching a better deal with Canada and Mexico.
Trump said in an interview that aired Sunday that he could quickly sign an agreement with the United States’ neighbors, “but I’m not happy with it. I want to make it more fair.” Asked about the timing of an agreement, Trump said: “I want to wait until after the election.”
The president’s decision to push back the NAFTA talks comes as the U.S. and Canada have been engaged in a tit-for-tat trade dispute over Trump’s tariffs on Canadian steel and aluminum. Canada announced billions of dollars in retaliatory tariffs against the U.S. on Friday, and the president signaled the trade rattling could continue.
In the interview on Fox News Channel’s “Sunday Morning Futures with Maria Bartiromo,” Trump again threatened to impose tariffs on imported cars, trucks and auto parts, saying, “The cars are the big ones.” The move has been viewed as a possible negotiating ploy to restart NAFTA talks, which could resume following Sunday’s elections in Mexico.
If the U.S. moved forward with tariffs on auto imports, it would be a blow to Canada’s economy because of the critical nature that the auto industry plays in the country. The U.S. Commerce Department is expected to hold hearings on auto tariffs in late July and to complete its investigation into auto imports later this summer.
Trump has sought to renegotiate NAFTA to encourage manufacturers to invest more in America and shift production from low-wage Mexico to the United States. The talks have stalled over several issues, including Trump’s insistence on a clause that would end NAFTA every five years unless all three countries agree to sustain it.
The president has suggested he may pursue separate trade pacts with Canada and Mexico instead of continuing with a three-country deal. But any reworked deal would need to be considered by Congress, and negotiators missed a self-imposed deadline to wrap up the talks by mid-May to allow it to be considered by lawmakers before the November elections.

https://www.breitbart.com/news/trump...erm-elections/

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DELAYED "SAFE ZONE" FOR REFUGEES...GET THEM OUT!

DELAYED TPS FOR SEVERAL COUNTRIES BY ANOTHER 18 MONTHS...GET THEM OUT NOW! SET A QUOTA EVERY MONTH!

DELAYED AN EXECUTIVE ORDER TO SHUT THE DAMN BORDER DOWN...GET THEM OUT!

DELAYED INFRASTRUCTURE TO TALK ABOUT DACA 24/7...GET DACA OUT AND REBUILD OUR COUNTRY!

DELAYED STOPPING ALL AID TO MEXICO AND CENTRAL AMERICA...STOP THE PAYMENTS! DEPORT THEM ALL!

NO MORE BUILDING DETENTION CENTERS...PROCESS...LOAD ON A BUS AND SEND THEM BACK!

Trump says he wants to wait until after the midterms to sign NAFTA deal

“NAFTA, I could sign it tomorrow, but I’m not happy with it,” Trump told Fox Business Network. “I want to make it more fair.”
Trump has repeatedly railed against NAFTA, a trade deal signed by the U.S., Canada and Mexico signed in 1993, calling it the worst deal ever.
Trade tensions between the U.S., Mexico and Canada have increased recently as the U.S. slapped import tariffs on Mexican and Canadian steel and aluminum imports. Mexico and Canada have also retaliated with tariffs of their own.

Fred Imbert
Published 3 Hours Ago
Updated 2 Hours Ago CNBC.com

President Donald Trump said Sunday he wants to wait until after the midterm elections to move forward on a new NAFTA deal with Mexico and Canada, with the parties locked in tough negotiations.

The Congressional midterms are scheduled for Nov. 6, with Democrats poised to gain seats in the House, and possibly retake a majority. Separately, trade tensions between the three NAFTA principals have increased recently, with the U.S. slapped import tariffs on Mexican and Canadian steel and aluminum imports.

Both Mexico and Canada have retaliated with levies on U.S. goods of their own, targeting yogurt, toilet paper, whiskey, apples pork and cheese, among others. The simmering trade disputes have made it even more difficult to strike a new North American accord.

“NAFTA, I could sign it tomorrow, but I’m not happy with it,” Trump told the Fox Business Network in an interview. “I want to make it more fair.”

He added: “I want to wait until after the election. You’re going to have an election. I think it’ll be very interesting. I think it’s going to be fine.

Trump also threatened new levies on car imports: "If they’re not fine, I’m going to tax their cars coming into America. That’s the big one,” he said.

Trump has repeatedly railed against NAFTA, a trade deal signed by the U.S., Canada and Mexico signed in 1993, calling it the worst deal ever. The fight has mirrored his broad skepticism over trade agreements in general, with the president repeatedly citing America's trade deficits as evidence that the world's largest economy is being systematically disadvantaged by its trading partners.

These tensions have increased volatility in financial markets, with U.S. stocks falling more than 1 percent last week. European and Asian equities also fell broadly as the tensions added to market uncertainty.

Still, Trump proclaimed to Fox Business that “I love free trade. When I was at the G-7 I said: ‘I have an idea: Nobody pay any more tax and you take down your barriers," he said. "No barriers, no tax.’ … You know what happened? Everybody said: ‘Can we get on to another subject?’”

The Trump administration has also targeted the European Union on trade, threatening to slap a 20 percent tariff on cars coming to the U.S. from the EU. The U.S. also slapped charges on aluminum and steel imports from Europe.

“The European Union is possibly just as bad as China. They’re just smaller,” Trump told the network. “They treat us very badly. They treat us very unfairly.”

Trump also lashed out at OPEC and the price of oil, and whether the market was being manipulated as crude recently hit its highest in more than 3 years. “OPEC is [manipulating prices], and they better stop it because we're protecting those countries, many of those countries. OPEC is manipulating."

At a meeting last month, OPEC members announced they would increase production, but did not specify by how much. Ahead of that meeting, Trump had urged the cartel to “substantially” increase output, and surprised the world on Saturday by announcing an agreement with Saudi Arabia to pump more oil into markets.

The president also threatened to sanction European companies that did business with Iran.

https://www.cnbc.com/2018/07/01/trum...e-midterm.html

Cancel the damn thing! During the campaign you pretty much gave us the impression you would cancel NAFTA if you couldn't work out a deal quickly. Well, It's been almost 18 months. Why are we still talking about this? Canada and Mexico has had their 6 months warning and, according to the agreement, it is within your powers as president to terminate after the 6 month warning. Just do it! After that you can pressure Mexico and Canada independently for an individual deal.

According to the North American Free Trade Agreement (NAFTA) you don't need Congress or anyone else's approval to terminate NAFTA, Mr. President. This is all on you, so quit dragging your feet!

Neither article covered the most important thing he said in this interview which is whatever he does with one country he wants it to be similar or the same with what we do with every country on some of these important issues.

Mr. President, the simplest and easiest way to achieve the largess of your goal on trade deficits is passing the FairTax, because this treats all the countries exporting to the US the 1) same 2) the same as our domestic companies 3) paid the same way 4) applied the same way 5) avoids international disputes 6) avoids WTO lawsuits 7) preserves for tariffs and other measures whenever necessary or appropriate for unfair trade barriers and national security issues.

So keep FairTax and Trade in mind, the FairTax Act, HR 25 in the US House of Representatives, as you work through fixes to these bad trade deals. It solves the trade deficit issue in short order. You might still need agreements to deal with unfair trade barriers, intellectual property theft, currency manipulation and dumping.