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White House readies order on withdrawing from NAFTA

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S

studyguy

Member
http://www.politico.com/story/2017/04/26/white-house-nafta-withdraw-trump-237632

The Trump administration is considering an executive order on withdrawing the U.S. from NAFTA, according to two White House officials.

A draft order has been submitted for the final stages of review and could be unveiled late this week or early next week, the officials said. The effort, which still could change in the coming days as more officials weigh in, would indicate the administration’s intent to withdraw from the sweeping pact by triggering the timeline set forth in the deal.

The approach appears designed to extract better terms with Canada and Mexico. President Donald Trump pledged on the campaign trail to renegotiate NAFTA, a trade deal signed in 1994 by former President Bill Clinton that removes tariffs and allows for the free flow of goods and supplies between the three countries in North America. Trump in recent weeks has stepped up his rhetoric vowing to terminate the agreement all together.

“NAFTA’s been very, very bad for our country,” he said in a speech last week in Kenosha, Wis. “It’s been very, very bad for our companies and for our workers, and we’re going to make some very big changes or we are going to get rid of NAFTA once and for all.”

Peter Navarro, the head of Trump’s National Trade Council, drafted the executive order in close cooperation with chief White House strategist Steve Bannon. The executive order was submitted this week to the staff secretary for the final stages of review, according to one of the White House officials.
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Edit as of 1:43PST

https://twitter.com/nytimes/status/857334671398588416
@nytimes
Breaking News: Trump is likely to sign an order setting in motion a U.S. withdrawal from the Nafta trade accord
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M

Mortimer Brewster

Member
studyguy said:
The Peso is apparently dropping like a brick now.
Click to expand...


Reminder to Canadians that if NAFTA dies, the old Canada-US Free Trade Agreement would still be in place so the effects on us would be negligible as it would become the law of the land again for trade issues between the countries. Mexico is totally fucked though
 
V

Volimar

Member
Mexico and Canada would have little trouble finding other trade partners and the convenience of the US being next door isn't as big a deal as it used to be. Like all of Trump's actions this could well hurt the US a lot more than it could benefit it.


<reads thread replies>


Or it could be the tradepocalypse. You know, either or.
 
J

Jinaar

Member
How is this even sane in this day and age where there is 2 billion dollars daily of trade just between Canada and USA? Everything will go to Fuck Land. Everyone on all sides are going to get fucked in Fuck Land.
 
P

Pastry

Banned
This is going to be disastrous for thd country. Texas and Arizona are going to be hit really fucking hard. The border cities that are going to be hurt the most? Mostly Hispanic, go figure.
 
K

Kurdel

Banned
Mortimer Brewster said:
Reminder to Canadians that if NAFTA dies, the old Canada-US Free Trade Agreement would still be in place so the effects on us would be negligible as it would become the law of the land again for trade issues between the countries. Mexico is totally fucked though
Click to expand...

Slightly reassuring for Canada
 
K

kirblar

Member
Pastry said:
This is going to be disastrous for thd country. Texas and Arizona are going to be hit really fucking hard. The border cities that are going to be hurt the most? Mostly Hispanic, go figure.
Click to expand...
Want to make a bunch of white people angry? Triple the price of their guac.
 
B

Baron von Loathsome

Member
tumblr_inline_oi21kh5amj1qen7j0_500.gif
 
D

darkstar0155

Member
Can he even do this without it being passed by congress? I feel like a lot of these E.O.'s will keep getting challenges in courts and a good number of them will be overturned.
 
C

Chorazin

Member
Jinaar said:
How is this even sane in this day and age where there is 2 billion dollars daily of trade just between Canada and USA? Everything will go to Fuck Land. Everyone on all sides are going to get fucked in Fuck Land.
Click to expand...

Canada-US Free Trade Agreement would take over, which was prior to NAFTA. It's just Mexico that's gonna get reamed.
 
E

epmode

Member
studyguy said:
Also mind you this is coming off the back of the administration meeting at 1:30 thurs instead of today to discuss whether or not to leave the Paris Climate Agreement.
https://twitter.com/jenniferjjacobs/status/857265553341386752


There's a metric shitton of things going on at the moment.
Stay vigil.
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Trump's been going with the shock and awe approach since his first week in office. Drown us in bullshit, hope some stuff gets through.
 
Flying Toaster

Flying Toaster

Member
Arizona is going to get screwed. If this goes through you will see a huge backlash from red states as they benifit from Nafta greatly.
 
W

WedgeX

Banned
So dumb.

The raising of tariffs in the Smoot-Hawley Act contributed to the worsening of the Great Depression. Luckily we're out of the Great Recession. But its like if Truman had not won after FDR and the GOP had brought Smoot-Hawley back instead of the Marshall Plan.
 
PJV3

PJV3

Member
Lol, I bet his research on the impact of withdrawal is extensive and planning is in an advanced stage to deal with it.
 
M

mavo

Banned
Electric Eye said:
I mean the peso does this everyday not exactly a great barometer.
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The peso has been doing great (the best performing currency against the dollar) since Trump took the presidentship.

But recently it has been tanking with all the wall talk and this rumour is gonna tank it more.
 
M

Maxim726X

Member
I thought he reversed his position on this because it's a fucking stupid idea to withdraw from NAFTA and will actually cause economic harm?

Thankfully, we have master economist Steve Bannon drafting this up, so I have no doubt that it will be effective.
 
M

marrec

Banned
darkstar0155 said:
Can he even do this without it being passed by congress? I feel like a lot of these E.O.'s will keep getting challenges in courts and a good number of them will be overturned.
Click to expand...

I don't think the President can unilaterally absolve trade agreements with an EO.

This would more than likely be an EO telling Congress to get us out, which would be followed by Congress not getting us out.
 
G

Guevara

Member
Remember when Ross Perot called NAFTA the "great sucking sound" as jobs and wages flowed south to Mexico?

NAFTA has been a net good, like most free trade agreements: it's been great for Mexico, it was good for most of the U.S., but unfortunately it accelerated the loss of decent-paying U.S. manufacturing jobs and likely contributed to stagnant working class wages. Exactly the groups Trump is appealing to. (The jobs won't come back, however.)

We always judge trade agreements on the wrong metrics: currency fluctuations and stock market performance, rather than working class wages and number of decent jobs.
 
M

Mortimer Brewster

Member
djkimothy said:
This will also ensure the rust belt stays blue despite the last election. The amount of business afforded from this accord will devastate 38 states that do direct business in Canada.
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Again, it won't effect Canada. The old Trade Agreement between the two countries from 1988 is still in effect. NAFTA was designed after it but just added Mexico. If NAFTA goes, things between Canada and the United States will continue as normal. It's Mexico that gets its ass handed to them as their economy craters which will play to his base.
 
A

Alex_Mexico

Member
Fucking Mexico over is a sure fire way of getting more legal and illegal immigration from said country, you illiterate orange dipshit!

Nothing helps stopping people from leaving like a country that's doing well. Trump is going to fuck it all up!
 
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