Trade

Trump Claims He’s Withdrawing From NAFTA So He Can Sign It Back Into Law

JM Ashby
Written by JM Ashby

I'll believe it when I see it, but Trump says he's going to formally begin the process of withdrawing from the North American Free Trade Agreement (NAFTA).

In his own words, Trump intends to blackmail Congress into passing the trade agreement he signed with Mexico and Canada.

“I will be formally terminating NAFTA shortly,” Trump told reporters aboard Air Force One on his way home from Argentina.

“Just so you understand, when I do that - if for any reason we’re unable to make a deal because of Congress then Congress will have a choice” of the new deal or returning to trade rules from before 1994 when NAFTA took effect, he said.

Trump's trade agreement, the so-called "United States-Mexico-Canada Agreement," is nearly identical to the North American Free Trade Agreement.

In the words of congressional Republicans -- not me -- passing Trump's trade agreement shouldn't be a problem because "95 percent" of it is the same.

During negotiations with Mexico and Canada, Trump eventually caved in and agreed to drop his biggest demands, such as setting exclusive contest thresholds for American automakers, just so he could slap his name on something -- anything -- before time expired at the end of the legal window for negotiation.

Trump himself does not understand how trade works so you have to see this as his attempt to take what others have accomplished and put his name on it.

It's the story of his entire life.

  • muselet

    Donald Trump will claim that NAFTA 1.1 is the biggest, most wonderfullest trade deal in the history of trade, replacing the most horriblest trade deal ever. Righty media will repeat that several times and hour. The rubes and marks will cheer themselves hoarse over how Trump opened trade to Canada and Mexico. Our glorious news media wil tie itself in knots to keep from telling anyone the awful truth, that USMCA (presumably pronounced “us-mucka”) is NAFTA with a few mostly irrelevant bits glued on here and there.

    And the Universe will spin on.

    –alopecia

  • Badgerite

    The usual re-branding. It is literally all trump knows how to do.

  • Draxiar

    Conversely, an argument could be made that if 95% of it is the same then why pass the new trade deal?

  • katanahamon

    Can we just indict this guy already???