Trump Claims He Will Withdraw US From NAFTA

The leaders of Mexico the United States and Canada sign the

Canada takes U.S. President Donald Trump's comments about pulling out of NAFTA seriously and has no indication when the White House might act, Finance Minister Bill Morneau said on Monday, Reuters reported.

The ambassador said he's pleased that a side letter to the treaty assures Canada that no similar tariffs can be applied to cars made in Canada and exported to the United States.

National Cattlemen's beef Association (NCBA) President Kevin Kester issued a statement in response to the signing of the USMCA, in which he said, "With the signing of the US-Mexico-Canada Agreement (USMCA), US beef producers are one step closer to knowing that unrestricted, science-based trade will continue in North America".

The leaders of Canada, Mexico and the US signed a revised North American free trade pact Friday on the margins of the G20 summit in Argentina that is set to govern more than $1.2 trillion in regional commerce.

"I will be formally terminating NAFTA shortly", the president said of the trilateral agreement he and his supporters have long loved to hate. The move seems to be aimed at the new Democratic House, which will take over next year - and may not approve the USMCA. The remarks came after he had formally signed a new version of NAFTA with leaders from Mexico and Canada.

Trump had vowed to revamp NAFTA during his 2016 presidential election campaign. "I commend President Trump and our US Trade Representative, Ambassador Lighthizer, for their perseverance, leadership and hard work".

On Sunday, Henry Connelly, a spokesman for Pelosi, told the New York Times that it was "disappointing but not surprising" that Trump was trying to force Congress to approve the new deal.

Republicans will lose control of the U.S. House in January but will remain in control of the U.S. Senate.

Not even all Republicans in Congress are on board just yet.

"I think they're betting on Congress not letting it all go to hell", she said.

Trump had forced Canada and Mexico to renegotiate the 24-year-old agreement because he said it encouraged USA companies to move jobs to low-wage Mexico.

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