One Trillion On The Line In Trade Talks

Over 1 trillion in annual trade would be endangered if the President scraps Nafta according to the US Chamber Of Commerce. The North America Free Trade Agreement (Nafta) is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The pact eliminates barriers to trade and investment between the U.S., Canada and Mexico such as tariffs and duties. Mexico has warned the US that breaking the agreement could bring damage to their cooperation on issues such as drug trafficking and helping stop illegal immigration across the southern border. One of President Trumps major campaign promises was to overhaul the agreement. ” The U.S. has a 60 billion dollar trade deficit with Mexico. It has been a one-sided deal from the beginning of NAFTA with massive numbers.” tweeted Trump in January of this year. The President has also engaged Canada by putting duties on one of Canada’s airlines and extending it to Canadian wood exports. Although a lot of blame for the pact has fallen on the previous president, it was signed by Republican President  George H. W. Bush. Canadian Prime Minister Brian Mulroney and Mexican President Carlos Salinas rounded out the 3 leaders and the agreement was ratified in 1992. A new round of trade talks is scheduled for later this week between the 3 countries.

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