Leaked Trump draft order blames NAFTA for wealth transfer from US
Leaked Trump draft order blames NAFTA for wealth transfer from US
Canadian Prime Minister Trudeau walks down the West Wing colonnade with President Trump at the White House in Washington
06 May, 2017, 06:28
Canadian Prime Minister Justin Trudeau told President Trump not to "let a couple of irritants get in the way" of their strong relationship as Trump threatened to withdraw from NAFTA last week, a top Canadian official said Sunday.
"Late this afternoon, President Donald J. Trump spoke with both President Peña Nieto of Mexico and Prime Minister Trudeau of Canada". High-end products like computers and electronics are exported in both directions.
Of course, it is possible that President Trump is using the talk of terminating NAFTA as leverage when it comes to getting a better deal for the US when they do renegotiate.
Nissan Motor Co. manufactured 850,000 units in Mexico in 2016, and exported 400,000 of them to the United States and Canada.
Yet, in recent days Trump has fielded questions from bewildered reporters about whether his recent actions toward and statements about Canadian trade practices are moving the longtime friendly neighbors toward a trade war.
FILE - In this January 23, 2017, file photo, Vice President Mike Pence, left, and White House Chief of Staff Reince Priebus, right, watch as President Donald Trump shows off an executive order to withdraw the US from the 12-nation Trans-Pacific Partnership trade pact agreed to under the Obama administration, in the Oval Office of the White House in Washington. The reports were followed by a sharp drop in the value of the Mexican peso against the USA dollar. It has also strongly criticised Canadian controls on USA dairy exports into the country.
Trump is expected to use that leverage more with executive orders, rather than legislative negotiations.
Trudeau said the president appeared to be considering it. He has long accused Mexico of destroying U.S.jobs.
In the Oval Office interview, however, Trump repeatedly insisted that he was ready to pull out of NAFTA.
"Obviously, the issue of dairy came up", he said.
Though much of the Midwest and rural parts of the country supported Trump for president, it is now clear that on a number of issues, rural residents and agriculture producers must take a guarded approach to the president - lest his campaign talk become reality.
Canada and Mexico got a reprieve in their tough trade relationship with Donald Trump after the US president walked back his threat to jettison the NAFTA continental trade pact Thursday.
Canada buys more goods and services from the US than any other country: $322 billion previous year.
NAFTA is an agreement signed by Canada, Mexico and the USA to create a trilateral trade bloc in North America.
As an intense stocktaking is underway in the USA on the first 100 days of Mr. Trump's presidency, his promise with regard to NAFTA has been in sharp focus.
Details about the draft executive order on NAFTA were not immediately available.
The administration appeared to be divided Wednesday over how and when to proceed, as they balanced a newfound cautiousness with the desire to rack up accomplishments before Trump's 100th day on the job.
"The president said he "was going to terminate NAFTA as of two or three days from now", but after the two leaders - both of whom he had "a very good relationship" with - called him and said, "'Rather than terminating NAFTA, could you please renegotiate, '" he made a decision to put it on hold.
What I think you heard the president express this morning was frustration over how he's been treated as part of the negotiation. John McCain, asked if there's any appetite among senators for a government shutdown, said: "None that I've detected".
The Cupertino company has $256.8 billion in the bank - double its cash pile from just four and a half years ago. According to Suva, these companies all have a 10% chance or less of being bought out by Apple .
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