Publicado: Ср, Декабря 05, 2018
Financiera | Por Marilu Caballero

Trump Renegotiates Trade Deal with Mexico, Canada

Trump Renegotiates Trade Deal with Mexico, Canada

On Saturday, Trump told reporters he planned to give formal notice of his intentions to withdraw from NAFTA, which would give American lawmakers six months to approve the USMCA or have no free-trade pact with Canada and Mexico.

"I will be formally terminating NAFTA shortly", the president said.

The new agreement, which was announced in early October, was signed today in Buenos Aires by President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto as they attended a Group of 20 economic conference. Trump signed a new deal here Friday with the president of Mexico and Canada's prime minister, following through on a campaign promise he made to renegotiate the long controversial NAFTA agreement.

"Congress will have a choice of approving the USMCA, which is a phenomenal deal, much, much better than NAFTA", said Trump, who has repeatedly threatened to pull out of NAFTA entirely. Though the CUSFTA did not include rules on intellectual property nor the specific commitments on investment and services contained in NAFTA, it did allow for tariff-free access to the US market.

At the same time, Trump's updated North America trade proposal was encountering a rough reception on Capitol Hill, where both parties have deep divisions over trade that will be on full display as a newly Democrat-controlled House takes up the pact along with the Republican-led Senate.

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Brown gave his take on CNN's "State of the Union" on Sunday. The U.S. can tuck some changes into the trade deal's implementing legislation and request that Mexico and Canada go along with it.

'We (will) get rid of NAFTA, ' he told reporters.

What has Congress said about this?

While some argue a withdrawal must be approved by Congress, others point to a pattern of historical practice in which presidents have unilaterally withdrawn from treaties "for most of the 20century", said Bradley.

Business Roundtable, an influential association of leading USA companies' executives, also called for a "prompt resolution" of the tariff issue between all three countries while reviewing the final text of the new trade agreement. Ms Pelosi described the deal on Friday as a "work in progress" her members could not yet support. "But what isn't in it yet is enough enforcement reassurances regarding provisions that relate to workers and to the environment", she said.

"As now drafted this deal will put Florida seasonal vegetable growers out of business", Rubio wrote.

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