Trump will terminate NAFTA to press Dems into approving new trade deal

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Democrats want a trade bill that strengthen protections for American workers in the wake of lower-cost options overseas, particularly in the wake of General Motor's announcement to shutter five US factories. The president needs to talk to Congress on this and we can go back to the table with the Mexicans and the Canadians and do stronger labor.

The original NAFTA deal is back on top of Donald Trump's hit list, with the US president declaring he intends to terminate the 24-year-old trade pact - a move created to pressure lawmakers on Capitol Hill to approve its recently negotiated successor.

"We take everything seriously", Morneau said when asked whether he took the president's comments at face value.

President Donald Trump has said that he intends to end the North American Free Trade Agreement in six months, potentially forcing Congress to pass his new trade deal or risk having no trade deal in place.

"I will be formally terminating NAFTA shortly", Trump told reporters aboard Air Force One on his way home from a G20 summit in Argentina.

Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto signed a new trade agreement on Friday known as the United States-Mexico-Canada Agreement (USMCA).

Trump had to submit the text of the agreement to Congress by Friday to set up a slim chance of passing implementation legislation for the deal before January, when Democrats will assume the House majority.

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And he rejects President Trump's contention their new trade agreement is final.

"What isn't in it yet are enough enforcement reassurances regarding workers" and the environment, she told a press conference.

"The United States, Mexico and Canada worked so well together in crafting this great document".

Not even all Republicans in Congress are on board just yet.

Shortly after Friday's signing, U.S. Trade Representative Robert Lighthizer insisted that the deal was negotiated with bipartisan support from both Democrats and Republicans, and expressed confidence it would survive the congressional approval process.

Although the three country leaders agreed to the new terms, lawmakers in each country still need to ratify the deal.