Trump to Renegotiate NAFTA, For Now

Dan Industry News Release, Trade

nafta MexicoPresident Donald Trump says he has agreed to renegotiate the North American Free Trade Agreement, rather than terminate the agreement. Following news that the White House was preparing an executive order to terminate NAFTA, the President said on Twitter Thursday that leaders called from Mexico and Canada “asking to renegotiate rather than terminate,” adding he agreed to do so. But, only if the U.S. receives a fair deal in renegotiations. Word of an executive order to terminate NAFTA angered agriculture groups. The National Corn Growers Association denounced the reports, and NCGA President Wesley Spurlock said withdrawing from NAFTA “would be disastrous,” while urging the President not to remove the U.S. from the trade agreement. Mexico is the top buyer of U.S. exported corn. U.S. Grains Council President and CEO Tom Sleight said the council was “shocked and distressed” by the news, adding there is strong support to update and modernize NAFTA. Following the outcry, President Trump said in a statement: “It is my privilege to bring NAFTA up to date through renegotiation.” He told reporters Thursday afternoon that he had been planning to terminate NAFTA “as of two or three days from now.” But now, he says: “We’re going to give renegotiation a good, strong shot,” and says renegotiation begins today.

From the National Association of Farm Broadcasting news service.

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