Trump announced the fake NAFTA "deal" with Mexico that we expected to see last week, but he also said something else more alarming.
Trump also said he wants to "terminate" the North American Free Trade Agreement.
President Donald Trump says he’ll be “terminating” the North American Free Trade Agreement as he pursues a deal with Mexico and starts negotiations with Canada.
Trump said Monday during an Oval Office event that he’ll be calling the emerging agreement the “United States-Mexico Trade Agreement.” He says it will mark the end of the NAFTA name. [...]
He says, “We will only sign a new NAFTA that is good for Canada and good for the middle class,” adding that, “Canada’s signature is required.”
So, does he really intend to withdraw from NAFTA, or does he just want to change the name?
Unfortunately, Trump has no idea what he's talking about so we have no way of knowing what he really meant until someone from the White House corrects him. During a televised statement from the oval office this morning, Trump actually referred to a deal with "Canada" before one of his aides corrected him that his fake deal is with Mexico.
In any case, Trump would need approval from Congress to withdraw from NAFTA and any tentative "deal" he reaches will also have to be approved by Congress.
What we know about the non-binding agreement trade officials reached with their Mexican counterparts tells us it's mostly cosmetic but could improve the lives of Mexican automobile workers by raising their minimum wage to $16 per hour. We may Make Mexico Great Again because their government officials are the only ones who know what they're doing, but that's assuming a lot. That's assuming this will ever become law.