Fox News praises Trump tariff deal with Mexico, ending NAFTA
According to Fox News “President Trump won a major victory on trade on Monday, supplanting the North American Free Trade Agreement (NAFTA) and replacing it with something far more beneficial.”
Trump called the move as “one of the largest trade deals ever made.”
“I’ll be terminating the existing deal and going into this deal,” the president said in the Oval Office, calling it a “big day for trade.
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“They used to call it NAFTA, we are going to call it the United States-Mexico Trade Agreement, and we will get rid of the name NAFTA,” Trump said. “It has a bad connotation because the United States was hurt very badly by NAFTA.”
Fox agrees, claiming “The new deal will help American workers and manufacturers. It’s also a win for Mexico.
“One of the most fundamental parts of Trump’s campaign for president was his promise to change America’s deeply flawed trade arrangements. These deals left us with massive $500 billion trade deficits—a huge drag on the economy—and devastated forgotten communities across America that are dependent on manufacturing jobs.”
Trump vowed to focus on Canada next: “we’ll see” if Canada can still be part of the trade pact, leaving open the possibility of separate agreements.
“We are starting negotiations with Canada pretty much immediately,” Trump said.
Doug Holtz-Eakin, a former chief economist for President George W. Bush’s Council of Economic Advisers, spoke to MSNBC shortly before Trump’s announcement: “If they have a deal that can actually be agreed to by Canada and can be ratified by the Congress, that’s an enormous accomplishment — it represents the first time that the president’s strategy of using tariffs as a strategic weapon in a trade negotiation actually yielded a result,” Holtz-Eakin said, emphasizing that he had said “if.”
photo Gerd Altmann via Pixabay
