Trump wants a NAFTA rewrite in two weeks - CNBC

Joshua Gibson FXStreet

CNBC is reporting on reports from the White House that President Trump wants an outline of a NAFTA revamp ready to go in time for the Summit of the Americas in Peru on April 13th, as originally reported by Bloomberg.

Key quotes (source: CNBC)

"President Donald Trump is pushing to announce a tentative new North American Free Trade Agreement within two weeks, citing three people familiar with the talks."

"The White House wants leaders from Canada and Mexico, the other two members of the trade deal, to announce the framework of an agreement at the Summit of the Americas in Peru, which starts April 13."

"The Trump administration would like to see changes, particularly in the automotive industry, but two weeks "is probably too optimistic," a White House official who declined to be named told CNBC."

"Representatives from the three countries have negotiated the workings of a revised agreement for months."

"He [Trump] has threatened to pull the U.S. from the agreement if the three nations cannot improve it."

"During a string of tweets about immigration policy Monday morning, Trump took another swipe at the trade deal, saying Mexico "is making a fortune" from it."

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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