Trump Says He’s ‘Not Looking to Renew’ Trade Deal With Canada, Mexico Ahead of July Review
https://www.theepochtimes.com/world/trump-says-not-looking-to-renew-trade-deal-with-canada-mexico-ahead-of-july-review-6046037?ea_src=ca-frontpage&ea_med=section-1
U.S. President Donald Trump says he is considering not renewing the North American free trade agreement, arguing the United States would be better off without goods produced in Canada and Mexico.
Trump made the remarks in the Oval Office on June 10 when reporters asked how confident he was that the Canada-United States-Mexico Agreement (CUSMA) would be renewed, and what additional commitments he expects from Canada.
“I’m not looking to renew it,” Trump said, before criticizing CUSMA’s predecessor NAFTA as the “worst trade deal I’ve ever seen.”
Trump in his first term replaced NAFTA with CUSMA, but in later years soured on the negotiated trade agreement, accusing Canada and Mexico of taking advantage of the United States.
Trump said the one thing he likes about CUSMA is its provision allowing for a review after six years, whereas NAFTA had no set renewal or expiry date.
A review of CUSMA is slated for July 1, when the three countries will have to decide whether to extend the deal. Failing to do so would lead to annual reviews. Any country could also decide to pull out. Continue…