President Donald Trump said late Saturday he will formally terminate the North American Free Trade Agreement soon, a move created to put pressure on Congress to approve a new deal he signed during the G-20 summit. Marco Rubio says the deal - called USMCA by the USA and CUSMA by Canada - gives agricultural producers in Mexico an unfair advantage that could put seasonal growers in his state out of business.
"Congress will have a choice of approving the USMCA, which is a phenomenal deal, much, much better than NAFTA", said Trump, who has repeatedly threatened to pull out of NAFTA entirely. Grassley vowed to usher the deal through Congress, saying it'll benefit the USA economy and bolster agriculture interests in the Midwest.
Steps taken by the Trump administration at last week's G-20 summit in Buenos Aires, Argentina, could have significant effects for the trucking and port industries as the president continues to revamp global trade policy for the United States.
Move design to pressure Congress to approve new deal. The agreement includes a change in Canadian regulations that will allow greater access for USA dairy products, eggs and poultry. And he rejects President Trump's contention their new trade agreement is final.
"I think this new U.S. Mexico Canada trade agreement is great".
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The U.S. and China also made progress on the regulation of fentanyl, which is 50 times more powerful than heroin. Both parties agree that they will endeavor to have this transaction completed within the next 90 days.
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"As it stands, this agreement has not earned the support of America's working families", he said in a statement.
In a blog entry posted shortly after the agreement was signed Friday, Cato Institute trade analyst Simon Lester appeared to anticipate Trump's move - although he acknowledged it would have made a lot more sense if the Republicans still had control of Congress. The President needs to talk to Congress on this.
Sen. Sherrod Brown, D-Ohio, has been critical of the new trilateral trade deal. Ms Pelosi described the deal on Friday as a "work in progress" her members could not yet support. "And we're rolling. Congress, on the other hand, is not rolling, and I think President Trump's intent here was to light a fire under Congress".
The agreement does include a 16-year sunset provision, but the three countries will meet every six years to decide whether to renew the pact, which potentially keeps the agreement going in perpetuity.
'We (will) get rid of NAFTA, ' he told reporters. "What isn't in it yet is enough enforcement reassurances regarding workers, provisions that relate to workers and to the environment", she said. Senator Marco Rubio of Florida tweeted on Friday that the deal as drafted would put Florida's seasonal vegetable growers "out of business".