Trump vows to 'terminate' Nafta if negotiations fail
[STRUTHERS, United States] US President Donald Trump vowed on Tuesday to rip up a free trade deal with Canada and Mexico if the text is not renegotiated to his liking.
"We are renegotiating Nafta and if we don't get the deal we want, we'll terminate Nafta," Mr Trump told a group of veterans in Ohio, the center of America's industrial heartland.
"NAFTA has been a disaster for Youngstown, it's been a disaster for Ohio." Mr Trump made scrapping Nafta a pillar of his presidential campaign, but has since softened his stance slightly.
Earlier this month, his administration began the process of renegotiating the 23-year-old deal, which Trump says is not fair to American workers.
The former businessman has made reforming America's economy a centerpiece of his brand.
His timing has been auspicious, entering office after the recovery from the Great Recession was well entrenched and with the labour market approaching full employment.
"Jobs are the best they have been in 17 years, the stock market hit another all time high today, we're doing trade deals," he said, marking that progress.
"People are coming back, if you look at Ohio, if you look at Michigan and other places the auto industry is starting to come back in a very, very big way."
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons