NAFTA Renegotiation Going 'Pretty Good,' Trump Says
The NAFTA renegotiation is going “pretty good,” despite its first iteration “being a terrible deal for us,” President Donald Trump said in an interview with The New York Times published Dec. 28. Trump’s words differ in tone from harsher characterizations of trade talks earlier this year, including an August tweet (see 1708280025). However, Trump did say he would “terminate NAFTA in two seconds” if he doesn’t “make the right deal.” Trump also cited a projected $17 billion average goods trade deficit with Canada for 2017, when oil and lumber are factored in, as well as an anticipated $71 billion yearly goods trade deficit with Mexico for this year.
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Trump noted that he and Canadian Prime Minister Justin Trudeau disagree on the two countries’ trade balance, with Trudeau claiming that both have imported and exported the same amount of goods overall this year. The most recent Census Bureau data available shows the U.S. had a $14.3 billion goods trade deficit with Canada for 2017 at the end of October.