Canada takes Trump’s intention of terminating NAFTA seriously

December 3, 2018

Canada takes U.S. President Donald Trump’s comments about pulling out of NAFTA seriously and has no indication when the White House might act, Finance Minister Bill Morneau said on Monday [Dec 3, 2018].

Morneau... also said it was clear that a negotiating process was starting in the United States which he hoped would lead to Congressional ratification of a new pact designed to replace the North American Free Trade Agreement.

Trump said on Saturday he would give formal notice of his intention to terminate NAFTA, giving six months for lawmakers to approve the new U.S.-Mexico-Canada Agreement (USMCA)...

The Democrats, who say the USMCA has some shortcomings, take control of the U.S. House of Representatives next month. If Trump pulls out of NAFTA and the House rejects the new pact, it could deal a major blow to North American free trade...

This was excerpted from 3 December 2018 edition of The Globe and Mail.

Topic(s)

Trade Agreements

Information source

Canadian News Channel

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