Trump to withdraw US from NAFTA

[Luc 4,776]

 

Donald Trump's team is readying an executive order to take the US out of the North American Free Trade Agreement (Nafta), it has been reported.

The order has been submitted for final review to the appropriate teams within the White House and may be signed as early as the next few days. 

The deal, one of the largest trade agreement in the world, was originally signed in 1994 by President Bill Clinton and allows free trade between the three countries in North America. 

Mr Trump speaking in Wisconsin recently said that the agreement has been “very, very bad for our companies and for our workers, and we’re going to make some very big changes or we are going to get rid of Nafta once and for all.”

The White House confirmed that Peter Navarro, head of the National Trade Council, drafted the bill with Trump strategist Steve Bannon, Politico reported. 

He has also caused a rift with Canada aside from Nafta. Canada lowered its pricing on domestic milk, making Canadian milk more competitive in the market. According to Mr Trump this puts US dairy farmers at a disadvantage.

In response, he has imposed a new tariff on softwood lumber coming to the US from Canada. Legal disputes over lumber imports and exports have been fought at the US Department of Commerce for several years. 

http://www.independent.co.uk/news/donald-trump-nafta-executive-order-trade-deal-us-america-leave-latest-a7703926.html

 

[Economy 53,099]

Uh oh.... 😳

 

Canadian dollar gonna tank... and panic could be enough to pop housing bubble and send Canada into recession  

[PartySick 174,345]

'Nother Afternoon of F*cking That America.

[DeleteMyAccount 11,881]

 “very, very bad for our companies and for our workers, and we’re going to make some very big changes" 

mhmm. I'm listening Trump. Go on.. What is "very bad"? What are the changes you'll propose for present and future trade? Oh, is that all you got? Ok... 

[Americano 31,061]

I doubt this will be signed. It's a deliberate leak by the White House to scare Trudeau. 

[Gaga Monster 13,001]

14 minutes ago, Economy said:

Uh oh.... 😳

 

Canadian dollar gonna tank... and panic could be enough to pop housing bubble and send Canada into recession  

Can that really happen? That is scary!

[Morphine Prince 109,981]

I wonder what the consequences will be if this happens. 

[Whispering 18,865]

Trump talked to a bunch of dairy farmers and lobbyists and is now convinced Canada is stealing our lunch milk. 

[Economy 53,099]

1 minute ago, Americano said:

I doubt this will be signed. It's a deliberate leak by the White House to scare Trudeau. 

Why tho? Trump himself has said many times that the most unfair parts of the deal are with Mexico not Canada

 

The only 2 things he seemed upset over was lumber and dairy. Those 2 industries are hardly reason to rip up NAFTA or try to scare Trudeau

 

i think he legit is just an idiot

 

Canada-US trade is $2 Billion a day... the annual trade Canada and US do is larger than the Economy of most Countries

 

That has created such a complex interconnected network that suddenly imposing taxes will damage both sides of the border. Imports from one Country for example has exports that go with  it. Canada sells a car to the US, but it bought parts from US as well as services to sell it

 

Cutting imports in favor of local businesses? Its just not that simple

 

I really dont get what hes trying to accomplish here

[LetsGetHigh 52,683]

Oh god.

[Bear 7,515]

This will benefit no one 

3 minutes ago, Economy said:

I really dont get what hes trying to accomplish here

Neither does Trump if we're being honest 

[Economy 53,099]

15 minutes ago, Gaga Monster said:

Can that really happen? That is scary!

Not now during uncertainty. If it actually passed tho maybe

 

Our financial system right now is super fragile because businesses and individuals are very leveraged and home prices are very high

 

Weve relied on retail, services and real-estate to keep our economy strong for several years when our manufacturing got slaughtered in 2009 (a surging currency when world demand dropped at the exact same time was a really bad combo)

 

Now Oil our biggest export is low on prices

 

Everyone trusted a recently improving manufacturing and exports to help stabalize the sustainability of economy

 

if there is consensus we now wont get that and all we have is leveraged consumers and a way beyond this world overheated housing market, what will we fall back on?

 

We do have a fast growing tech sector and Corporate sector (thanks to 15% Corporate taxes) but that alone wont hold economy together when consumer debt is at 167% of income (it peaked at 134% in US by comparison)

 

Canadas economy superficially looks solid. But fundamentally investors know its rotten and unsustainable and 1 big bubble. Investors will panic here if NAFTA ends officially

[Edonis 28,974]

That would literally be one of the stupidest things he's done yet. Hoping it doesn't happen as it'll hurt the economy of both countries 

[Whispering 18,865]

15 minutes ago, Economy said:

 

i think he legit is just an idiot

Ding, ding, ding, ding!  

[Chromatislaps 34,854]

This baboon's ass with a toupé should first inform himself by the industry/companies before making such a decisions. He needs to take several seats