United States President, Donald Trump has reiterated his desire to cancel the North America Free Trade Agreement (NAFTA) if Canada and Mexico fail to cooperate with the United States in the ongoing renegotiation of the trade deal. President Trump issued the threat on Sunday in a tweet posted on his verified Twitter handle. The tweet was posted few days before the three countries are billed to hold another round of meeting to rewrite NAFTA which has been in existence since 23 years ago.
The tweet read “We are in the NAFTA (worst trade deal ever made) renegotiation process with Mexico & Canada. Both being very difficult, may have to terminate?”
President George H. W. Bush, Canadian Prime Minister Brian Mulroney and Mexican President Carlos Salinas had signed NAFTA in their respective capitals on December 17, 1992 before forwarding same to their various legislative houses for ratification.
Donald Trump who claimed that the agreement was injurious to United States' interest had promised to cancel or review the deal if elected President. He said the deal was responsible for job losses, relocation of US industries, capital flight and plunge in revenue.
The first five-day round of talks targeted at reviewing the treaty ended last Sunday with the parties agreeing to an accelerated process of revamping the agreement.
