Posted on 07/06/2016 5:33:12 PM PDT by 2ndDivisionVet
Donald Trump calls NAFTA the "worst trade deal in history."
He said as president he'd negotiate for better terms with Mexico and Canada, and if they don't agree, he'd pull out altogether.
Would he even have the power to scrap it on his own? Turns out presidents do have that power and don't need Congress. NAFTA's Article 2205, which Trump cited in his speech last week in Pittsburgh, is only 34 words and simply says that a party may withdraw from the agreement six months after it provides written notice.
What would happen next is unclear since the U.S. has not withdrawn from a trade agreement since 1866.
NAFTA, which went into force in 1994, changed relations between the U.S. and Mexico in two significant ways. It virtually eliminated tariffs between the two countries, and it made it easier for U.S. firms to invest in Mexico....
(Excerpt) Read more at money.cnn.com ...
It wouldn’t be pretty, it’d be beautiful.
The original FTA negotiated between Reagan and Mulroney was a boon to both teh US and Canada. NAFTA has skewed and screwed the playing field to the advantage of the Mexicans at the expense of the other two signatories.
Cancel NAFTA and go back to the original FTA.
CNN - Communist News Network — go away.
I thought Trump was going to renegotiate, not kill.
In case no one’s been paying attention; pretty left the field quite a ways back.
You stole the letters right off my keyboard.
Sure, but never trust the MSM to report honestly.
NAFTA is a benefit to America. NAFTA is not a significant source of overstays by illegals. If Trump reduces foreign trade, history will record that he was one of the worst presidents ever.
The potential for killing it could provide the basis of a better superseding agreement.
The USA isn’t a doormat-all, where the world can wipe its feet and we sing we don’t care, we don’t care.
Oh, and even if they are reporting honestly, cleaning up corrupt systems are never pretty either.
Trade ought to BE trade, where the money is relatively static and the goods and services are what counts.
Anything else means not just purchases of goods, but purchases of shares in a country which will come back to bite sooner or later.
Trump doesn’t want to reduce trade, he just wants to level the playing field.
You can't negotiate a favorable deal unless you are willing to walk away from it completely. This is elementary Trump Negotiation strategy. It was set forth in The Art of the Deal.
Look at all those New High Paying jobs NAFTA produced?????
And everyone will be surprised to hear the multi-nationals scream and scream and scream...
True.
You can’t have fair trade between unequal countries.
The FTA worked because Canada and the US have similar GDP/person, similar culture, similar language, etc. But the big one is similar standard of living.
NAFTA was Mexico winning the lottery. Mexico never should have been in there in the first place, because with its hugely lower standard of living (i.e. wages) it was a magnet for companies up north - and they promptly proceeded to take full advantage of those newly-free borders.
Result - Mexico is booming with new factories - the same ones that were sucked out of Canada and the US by NAFTA. That’s a raw deal, and there’s no reason for us to continue with it as is. Why keep losing?
You’re right, works between U.S. and Canada.
Trump negotiates deals. That’s what he does. He would renegotiate NAFTA not just pull out of it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.