Trump says was 'Psyched to Terminate NAFTA' but Reconsidered

Olivier Douliery-Pool  Getty

Olivier Douliery-Pool Getty

Trudeau said he had warned Trump of the disruption that pulling out of Nafta would cause.

"In general, the Trump administration has, up to now at least, taken a much less protectionist line than we feared after the very dark and foreboding inaugural speech, which talked of putting America first and that protection would lead to prosperity", Capital Economics said in a report. "They called me up, they said, 'Could we try negotiating?' I said, 'Absolutely, yes.' If we can't come to a satisfactory conclusion, we'll terminate NAFTA".

President Donald Trump said Thursday that he has chose to wait to start the formal process of withdrawing of the United States from the North American Free Trade Agreement after calls from the leaders of Mexico and Canada. "And I said, I will hold on the termination; let's see if we can make it a fair deal". "But we're going to give renegotiation a good, strong shot". He often said he would either "get rid of it" or "terminate it" or "renegotiate" it.

"We appreciate the efforts of each member of Congress who signed the letter, recognizing the importance of our exports to Mexico while noting that Canadian dairy policies are directly hurting American exports", said Michael Dykes, president and CEO of IDFA.

Ironically, the very manufacturing workers that helped propel Trump to his election victory would be heavily impacted by a NAFTA withdrawal.

Renegotiating or exiting NAFTA had been a top campaign promise from Trump.

"The White House wants Congress to approve those negotiations under legislation that would allow expedited approval of the reworked agreement, but talks between administration officials and congressional Republicans have moved slowly". They had not met each other previously.

Stories suddenly appeared in the Washington Post, Politico, CNN and the New York Times saying sources within the White House were seriously considering a draft executive order to cancel NAFTA. "We remain supportive of efforts to modernize NAFTA and further expand access for USA soy in Mexico and Canada, and we look forward to working with the administration to realize these goals".

The administration appeared divided Wednesday over how and when to proceed, as officials balanced a newfound cautiousness with the desire to rack up accomplishments before Trump's 100th day on the job.

Details about the draft executive order on NAFTA were not immediately available.

US Commerce Secretary Wilbur Ross told CNBC on Thursday that numerous "conceptual flaws" in the treaty needed to be addressed. And it is unclear what would happen next.

After speaking by telephone with his Canadian and Mexican counterparts a day earlier, Trump announced that the North American Free Trade Agreement would instead be renegotiated.

Unifor president Jerry Dias, who was lauded for securing favourable deals for autoworkers in negotiations with General Motors, Ford and Fiat Chrysler, said the government should deploy an aggressive approach in its response to U.S. President Donald Trump, who threatened to withdraw from NAFTA earlier this week. "He's a very good man and I got to know him very well".

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