Trump says he "would rather not have" his North American trade deal
Source: msn/Axios
12h
President Trump on Wednesday said that he would "rather not have" the North American trade agreement that was negotiated during his first term.
Why it matters: The free trade pact that binds North America is up for review next month. The risk of the deal collapsing now appears greater than before.
What they're saying: "I'm thinking about maybe we won't be able to make a deal. I would rather not have the USMCA," Trump told reporters in Paris, referring to the U.S.-Mexico-Canada trade agreement.
"I'd rather leave it unsigned, I'd rather have it terminated," the president said though he added that he "may sign it." "We do better as a country if we don't have an agreement."
Between the lines: An implosion of the deal could be disastrous for key industries that depend on the free flow of parts across the northern and southern borders.
Read more: https://www.msn.com/en-us/news/other/trump-says-he-would-rather-not-have-his-north-american-trade-deal/ar-AA25UxgZ
tanyev
(50,067 posts)The world has learned that there is simply no point in doing a deal with Donald Trump because he will completely ignore it after he changes his mind.
Redleg
(7,067 posts)I thought they did because Trump didn't like the agreement that he got in his first shitty term as president.
Response to tanyev (Reply #1)
Redleg This message was self-deleted by its author.
purr-rat beauty
(1,808 posts)Either on purpose or by proxy
The trust of the world is dwindling...if not, already lost.
SamuelAdams
(487 posts)why do his supporters trust him to negotiate other trade deals or a deal with Iran?
dalton99a
(96,713 posts)TexasBushwhacker
(21,365 posts)Regular folks don't make money on futures contracts bought on ridiculous margins.
truthisfreedom
(23,556 posts)Just screw em.
JoseBalow
(10,035 posts)amcgrath
(457 posts)Most glaringly with Iran. Trump frames everything as being undecided, but also unimportant. He denies fixed goals so that his failures are easier to defend. The US relies heavily on free trade with its neighbours, but Trump cant say that, he must pretend that he is unbothered , so that nobody uneducated will be aware of the significance when he screws it all up.
The world has not stood still either. If the trade agreement is renewed and things return to "normal" the US will find that things have changed. Whether it's lumber, or potash or aluminum, the volumes the US used to rely on are no longer available, Canada has made deals and signed contracts to export to other buyers. And the US auto-industry will return to a Canada where the former agreement not to import Chinese EV's no longer exists. They are already arriving.
Similarly with NATO, Trumps feigned disinterest has seen many member countries abandoning the US as the only supplier of arms. These changes will stay in place. Even when Trump ends up signing an agreement to return to things as they were, he has degraded and devalued them