Trump: We'll 'probably' end up terminating NAFTA
(Worthy News) - President Donald Trump on Tuesday said he doubts the United States can reach a deal to renegotiate the North American Free Trade Agreement.
"Personally, I don't think we can make a deal ... I think we'll end up probably terminating NAFTA at some point," he said at a rally in Arizona of the efforts to tweak the three-nation deal with Mexico and Canada.
"I personally don't think you can make a deal without a termination but we're going to see what happens, OK? You're in good hands, I can tell you," he added. [ Source (Read More...) ]
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It is quite easy to terminate anything, but to build up something is quite hard. President Trump's act of confrontation with the closest friendly neighbors, no 1 and 2 in trade, will be turning as a poor decision.
Mexico is the biggest importer of the U.S. corn. Likewise, even though through the NAFTA, the trade balance with both Canada and Mexico is unfavorable for the U.S., the NAFTA termination will be creating massive unemployment in the U.S. It will greatly affect the Texas economy, which is already feeling the stress due to the plunged oil price. The strength of the Texas economy is a cardinal player of the U.S. economy.
Politicians will give all the rosy data of the lowest unemployment in the nation; but why mega department stores are being closed, the economy is not booming? It may be booming in certain States, but the overall growth pattern is not satisfactory.