President Trump said he plans to promptly pull the U.S. out of the North American Free Trade Agreement, according to the New York Times.“I will be formally terminating NAFTA shortly,” said Trump late Saturday night to a gaggle of reporters on Air Force One, which was traveling from the Group of 20 summit in Buenos Aires. Trump’s announcement came just one day after he appeared at a ceremonial signing of the new accord with Mexico and Canada. Like NAFTA, this deal governs how goods move between the borders of Mexico, the U.S. and Canada. While Trump has slammed NAFTA, and other trade deals, as harmful to the U.S. economy and workforce, critics of the new plan have contended that it’s too restrictive on the transnational movement of goods. Other critics maintain that it doesn’t do enough to protect American jobs and bolster wages. If Trump successfully carries out his plan to leave NAFTA, Congress would only have six months to OK the new trade agreement. If Congress doesn’t approve the accord, neither agreement would be in affect, potentially dealing a harsh blow to agriculture and industry in all three countries.
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