Trump To Sign Executive Order To Renegotiate NAFTA And Intent To Leave TPP

Trump To Sign Executive Order To Renegotiate NAFTA And Intent To Leave TPP

U.S. President Donald Trump on Monday intends to sign an executive order that will put in motion the renegotiation of the North America Free Trade Agreement (NAFTA), Yahoo News reports.

President Trump is also expected to sign an executive order announcing his intention to withdraw from the Trans-Pacific Partnership (TPP), a trade agreement among 11 other Pacific Rim countries. He will simultaneously move to commence trade negotiations with the parties of TPP individually. This means the Trump administration will seek one-on-one deals with the other countries involved in TPP, though Mexico and Canada already have a trade deal with the U.S. through NAFTA.

The team expected to lead the negotiations include Wilbur Ross, Trump’s pick for secretary of Commerce and head of the newly formed White House Trade Council, long-time China critic Peter Navarro, and U.S. Trade Representative Robert Lighthizer.

Trump planned to hold meetings on Monday with business and labor leaders to discuss manufacturing and other matters as he starts his first full week in office.

The Republican, who took office on Friday after eight years of a Democratic White House, was scheduled to meet with business leaders at 9 a.m. EST, followed by an afternoon meeting with labor leaders and U.S. workers, according to his schedule.

The White House, which announced the meetings in a daily schedule released late on Sunday, did not name specific company executives or union leaders.

According to Bloomberg News, the meeting will include Dow Chemical Chief Executive Officer Andrew Liveris, whom Trump tapped last month to lead a private-sector advisory group on manufacturing. Reuters could not immediately confirm the report, which cited an administration official.

Trump said on Twitter early on Monday that he planned to discuss U.S. manufacturing with the executives but gave no other details.

Before taking office, Trump hosted a number of U.S. CEOs in meetings in New York, including those from defense, technology, and other sectors. He also met with leaders of several unions, including the AFL-CIO.

Photo:  Bing


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