Daily Trends Now
Daily Trends Now

'Sanity will prevail': expert says as Trump ramps up NAFTA pressure

'Sanity will prevail': expert says as Trump ramps up NAFTA pressure

He also said he may shut down the government if he does not get funding to build a wall on the U.S. -Mexico border.

"The pullback is from pretty strong words out of the president ... comments on NAFTA, which brings up a question of a global trade war, is weighing", quoted Peter Cardillo, chief market economist at First Standard Financial.

Not all cards were put on the table, the source added, saying that during four four-hour sessions on rules of origin, the United States did not reveal its proposed targets for boosting North American and US content for the automotive sector. In Congress, farm-state lawmakers have urged US negotiators to do nothing that would imperil USA agricultural exports to Mexico and Canada.

NAFTA has helped USA companies compete by protecting intellectual property (a feature that hopefully will be improved in the current negotiations).

"It's hard to speculate on what the specific ... interests are going to be from the USA and Mexico", she said.

Most analysts and even the Mexican Foreign Minister, Luis Videgaray, are dismissing the comments as little more than a negotiating tactic. "I have confidence in the positive impact it has had on workers in canada and the u.s.", said prime minister, recalling that millions of jobs depend on the Agreement.

Presidents Zippy Duvall of the American Farm Bureau Federation, Ron Bonnett of the Canadian Federation of Agriculture and Bosco de la Vega of the National Agricultural Council in Mexico made their point during a news conference in Washington, D.C., last week in support of NAFTA.

After all, the vehicle you now drive most likely has parts that spent time in one way or another in Canada, Mexico and the United States (not to mention Asia and/or Europe). Luc Laliberté, who teaches U.s. history at Cégep Garneau in Quebec city, told TVA News that the remarks of Donald Trump's put the negotiators in a hard context. The truth is, the end of NAFTA would hurt all three partner countries.

The Trump administration's discontent with NAFTA as it stands implies that Canada should be wary of considering the existing agreement to be the fallback option if renegotiations turn sour (see a recent Fraser Institute paper by Steven Globerman and Christopher Sands).

"President Trump has been clear from the very beginning that if the NAFTA renegotiation is unsuccessful, he will withdraw from the agreement", Lighthizer said in a statement issued by the Office of the United States Trade Representative.

It began weakening during Trump's Tuesday-night campaign rally in Phoenix and remained in a downward slide over the next several hours.

"I think courts are going to be sympathetic to the idea that the president can't ignore the legislation that implements these trade agreements".

Underlining the character of a highly unpredictable of the tenant of the White House, the teacher indicated that this speech goes against what seem to think of other key actors in the administration Trump. In an interview several weeks ago, Robert Holleyman said it was a serious tactical error when Trump made the threat in April.


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