Trump Reiterates His Willingness to Renegotiate NAFTA

U.S. President Donald Trump on Thursday reiterated his willingness to begin renegotiating the North American Free Trade Agreement with Mexico and Canada.

“I have very serious concerns about NAFTA,” he said when he met with bipartisan lawmakers at the White House. “NAFTA has been a catastrophe for our country. It’s been a catastrophe for our workers and our jobs and our companies.”

“I want to change it. And maybe we do it — maybe we do a new NAFTA and we put an extra ‘F’ in the term NAFTA…for free and fair trade, because it’s very unfair,” he said, adding that Wilbur Ross, his pick for commerce secretary, will lead the negotiations.

Trump, who took office on Jan. 20, has vowed to renegotiate the terms of NAFTA with Mexico and Canada with a threat to leave the bloc if the two nations “refuse a renegotiation that gives American workers a fair deal.”

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza