Mexico to Leave NAFTA if Trump Starts Withdraw Process

Mexico to Leave NAFTA if Trump Starts Withdraw Process

Mexico to Leave NAFTA if Trump Starts Withdraw Process

Speaking about one of his signature campaign promises with The Wall Street Journal, Trump said a renegotiation of the 1994 North American Free Trade Agreement - which includes Canada, Mexico, and the USA - could provide cost savings to the US that could be used to pay for the wall. He didn't elaborate on what that means.

Trump has threatened to pull out of the trade deal with Canada and Mexico unless American demands - earlier dubbed "troubling" and "unconventional" by Canadian Foreign Affairs Minister Chrystia Freeland - are met.

In the newspaper interview, Trump also renewed a threat made during his 2016 presidential run: "If we don't make the right deal, I will terminate NAFTA". "Guess what? Mexico's paying". Under spending plans submitted to Congress last week, the Trump administration wants $18 billion over the next 10 years to pay for the wall.

"Let this be clear: the issue of payment for a #border #wall is not, and will never be, part of the #NAFTA #negotiations #wearenotjoking", Mexico's chief Nafta negotiator Kenneth Smith Ramos wrote in a Twitter post.

"Mr. President you campaigned on a wall that Mexico would pay for".

Mexico had previously hinted it would exit NAFTA hours after Canadian officials claimed the USA will most likely pull out of the agreement.

Guide NAFTA Pullout 20180111

Canadian government officials say there's an increasing likelihood that US will give six-months' notice to withdraw from.

The penultimate round of the NAFTA negotiations is due to be held in Montreal, Canada, between January 23 and 28.

"Montreal is going to be a decisive round", said Wendy Cutler, a former US trade negotiator who is now vice president at the Asia Society Policy Institute in Washington.

Trump has repeatedly threatened to walk away from NAFTA unless Canada and Mexico agree to major changes Washington says are needed to make the 1994 treaty more fair.

While she puts the chances of USA withdrawal at 50-50, "it's too early to throw in the towel on these negotiations", Cutler said.

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