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President Trump on Monday said he plans to terminate the existing North American Free Trade Agreement, as he announced a new tentative agreement between the United States and Mexico that he described as “one of the largest trade deals ever made.”
“I’ll be terminating the existing deal and going into this deal,” the president said in the Oval Office, calling it a “big day for trade.”
But the president said Monday “we’ll see” if Canada can still be part of the trade pact, leaving open the possibility of separate agreements.
“We are starting negotiations with Canada pretty much immediately,” Trump said.
Trump, sitting at the Resolute Desk, put Mexican President Enrique Peña Nieto on his speaker phone as the press watched in the Oval Office. The Mexican president, speaking through a translator, congratulated the negotiators on both sides and expressed hope the United States and Canada would come to an agreement.
Later, the White House said Canadian Prime Minister Justin Trudeau congratulated Trump. “The leaders discussed US – Canada trade and agreed to continue productive conversations,” White House officials said.–Fox News
ECONOMICS EXPERT: Dr. Michael Busler, Ph.D., is a public policy analyst, economics expert and a professor of finance at Stockton University in New Jersey. He is a featured columnist at Newsmax, Lifezette, and Townhall.com.
BIO: Michael Busler, Ph.D. is a public policy analyst and a Professor of Finance at Stockton University where he teaches undergraduate and graduate courses in Finance and Economics. He has written Op-ed columns in major newspapers for more than 35 years.
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