NAFTA: To Be Rewritten Or Scrapped?

Trade Crossroads
What is Trump's true trade endgame?

On Thursday, President Donald Trump officially announced tariffs on imported aluminum and steel. It is a true example of keeping his promises to fight unfair and deliver what is right, even when it means to defy his own party.

President Donald Trump enacting the tariffs for a 10% increase on aluminum and 25% for steel at an event at the White House.

Earlier this week, President Donald Trump tweeted that, “Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed.”

Trump critic and vocal free trader, Senator Jeff Flake (R-Ariz.), said he would announce a legislation that would nullify the tariffs.

“Trade wars are not won, they are only lost,” he said in a statement. “I urge my colleagues to pass it before this exercise in protectionism inflicts any more damage on the economy.”

“Today, I am defending America’s national security by placing tariffs on foreign imports of steel and aluminum,” Trump said in the Roosevelt Room, flanked by steel and aluminum workers.

I include President Donald Trump tweeted earlier that, “When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win.”

Trump said the domestic steel and aluminum industry has been “ravaged by aggressive foreign trade practices.”

“This has been an assault on our country,” he said.

“The countries that treat us the worst on trade and on military are our ‘allies,’ as they like to call them,” he said.

“The workers who poured their souls into building this great nation were betrayed,” Trump said. “But that betrayal is now over.”

Canada’s minister of foreign affairs, Chrystia Freeland, said Thursday that “for Canada to be considered as posing any kind of security threat to the United States is inconceivable.” Chrystia also said the Canadian Officials have worked tirelessly with counterparts from the United States in order to secure an exemption from the tariff scheme.

“This work continues and it will continue until the prospect of these duties is fully and permanently lifted,” Freeland said.

Freehand also insisted that Canada has constantly negotiated since last year with NAFTA, saying that, “has been consistent since negotiations began last year. Today’s announcement does not change that.”

Skeptical Democrats, say that President Donald Trump needs to focus on the actions of China. Whip Dick Durbin, Senate Minority (D-Ill.) said that “President Trump wants to put China on notice for their abusive trade practices that hurt American workers and industries. I support that. The sweeping tariffs announced today are like dropping a bomb on a flea.”

“Tariffs won’t start a trade war, there’s 435 of them in place today to fight trade cheaters. People may not like how Pres Trump rolled these out, but I applaud him for trying,” tweeted the group’s President, Richard Trumka.

On Wednesday, President Donald Trump tweeted referring to an ongoing probe into whether China’s practices are hurting American businesses that he is ready to go even further on trade, saying, “the U.S. is acting swiftly on Intellectual Property theft.”