US president Donald Trump said on Saturday, 1st December that he would be sending formal notice to the US congress in the “Near-Future” about dissolving NAFTA, which will formally terminate the North American Free Trade Agreement.
The comment came as a shock, as a new NAFTA trade deal had just been signed on Friday during the G20 Summit. “I will be formally terminating NAFTA shortly. Just so you understand, when I do that - if for any reason we’re unable to make a deal because of Congress then Congress will have a choice”, Trump told reporters before heading on his way home from G20 Summit, Buenos Aires, Argentina.
In the wake of this recent concern over the NAFTA issue, Trump told reporters that the trade deal in G20 went very well, as it would allow any country to withdraw them with a six- month notice. In fact, the trade deal agreement signed on Friday in G20 summit known as the United states- Mexico – Canada Agreement (USMCA), would hurt the nationalist approach of Donald Trump, yet the trade treaty had signed, but preserving an exit strategy for US.
Despite Trump’s wish to dissolve the NAFTA, the congress might negate the possibility, as the house representatives are under the control of Republicans, followed by US mid-term election and passing any whimsical issue conceived from Trump’s meretricious mind might not be passed as easily, as it had been before.