Trump, traveling home from a G20 summit in Argentina, told reporters aboard Air Force One that he would give formal notice to Congress on "terminating" NAFTA "within a relatively short period of time".
Mexico's Enrique Pena Nieto (left), President Donald Trump and Canadian Prime Minister Justin Trudeau sign the United States-Mexico-Canada Agreement.
Trump's termination threat, if carried out, would essentially remove a safety net from under the new agreement's journey through Congress, leaving lawmakers less leeway to demand revisions. Marco Rubio says the deal - called USMCA by the US and CUSMA by Canada - gives agricultural producers in Mexico an unfair advantage that could put seasonal growers in his state out of business.
"That'll be terminated so Congress will have a choice of the USMCA or pre-NAFTA, which worked very well", the Republican president said. "The deal eliminates Canada's unfair Class 6 and Class 7 milk pricing schemes, opens additional access to US dairy into Canada, and imposes new disciplines on Canada's supply management system", Perdue said.
U.S. Department of Agriculture Secretary Sonny Perdue was pleased an agreement had been reached.
Numerous nation's largest ports have been reporting record container volume as shippers rushed to get those items into the United States or sent overseas before the higher tariffs took effect.
It remains unclear if President Trump can actually withdraw from NAFTA without congressional approval.
"I think this new U.S. Mexico Canada trade agreement is great".
Democrats want a trade bill that strengthen protections for American workers in the wake of lower-cost options overseas, particularly in the wake of General Motor's announcement to shutter five US factories.
"I think they're betting on Congress not letting it all go to hell", she said. "I'm hopeful that it will", Senator Sherrod Brown answered. These details are critically important for New Mexico families, and I look forward to working with my colleagues in Congress to implement improvements to this deal that ensure border states and communities continue to thrive while safeguarding our environment and creating strong, enforceable protections for workers.
The agreement does include a 16-year sunset provision, but the three countries will meet every six years to decide whether to renew the pact, which potentially keeps the agreement going in perpetuity.