President Donald Trump has said that he intends to end the North American Free Trade Agreement in six months, potentially forcing Congress to pass his new trade deal or risk having no trade deal in place.
"I will be formally terminating NAFTA shortly", Trump told reporters aboard Air Force One late Saturday as he returned to Washington from the G20 summit in Argentina.
The leaders of Canada, Mexico and the US signed a revised North American free trade pact Friday on the margins of the G20 summit in Argentina that is set to govern more than $1.2 trillion in regional commerce.
He says they can choose between the United States-Mexico-Canada Agreement or "pre-Nafta, which works very well".
Trump is obviously applying pressure to the soon-to-be Democrat-dominated Congress to cave in and give him his trade deal victory, but cancelling NAFTA could actually backfire.
Republicans will lose control of the U.S. House in January but will remain in control of the U.S. Senate. This new deal - the full extent of which has not been released - will require approval in the next Congress. The agreement includes a change in Canadian regulations that will allow greater access for USA dairy products, eggs and poultry.
In a hearing held mid-November, John Bozzella, president of the Association of Global Automakers, said the new agreement could hurt the industry.
China Stops Work on Gene-Edited Babies
Other concerns have focused on the CCR5 gene, which scientists at the conference said is crucial to the human immune system. The conference was rocked by the Chinese researcher's claim to have helped make the world's first gene-edited babies.
Democratic Senator Sherrod Brown of OH says the US needs to reopen discussions with Mexico and Canada on trade.
"As it stands, this agreement has not earned the support of America's working families", he said in a statement. 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must be approved by Congress, others point to a pattern of historical practice in which presidents have unilaterally withdrawn from treaties "for most of the 20century", said Bradley.
The elimination of both trade deals could expose Canada to more tariffs and import quotas and could send us back to square one with our largest trading partner.
"I think they're betting on Congress not letting it all go to hell", she said.
Democratic leader Nancy Pelosi, of California, said she is not yet ready to judge the new trade deal but was dismissive of it.
"The United States, Mexico and Canada worked so well together in crafting this great document".
Rubio's office said Monday that the senator had asked Lightizer to look into additional trade actions to protect Florida growers, and that Lighthizer had committed to requesting a fact-finding investigation and taking corrective action.