Canadian officials are concerned that President Donald Trump will remove the U.S. from the North American Free Trade Agreement (NAFTA), according to a Wednesday report.
Two government sources told Reuters that they are expecting Trump to announce a withdrawal from NAFTA in the near future, which would likely lower Canadian and Mexican currencies and affect stocks. The concern from Canada comes as officials are set on having sixth and final series of negotiations in Montreal for five days in late January.
One of the sources, who works with the Canadian government, even said they were “sure” Trump will withdrawal from the pact and that they are planning for the announcement.
“The government is increasingly sure about this … it is now planning for Trump to announce a withdrawal,” the unidentified source said.
Trump has continued to criticize NAFTA on the campaign trail and throughout his presidency, saying he would pull the U.S. out of the pact if Canada and Mexico do not agree to a major rewrite of the deal. (RELATED: Trump Renews Threat To Dismantle NAFTA At Phoenix Rally)
“On NAFTA, I am working very hard to get a better deal for our country and for our farmers and for our manufacturers,” Trump said during a speech Monday at the American Farm Bureau Federation convention in Nashville. “When Mexico is making all of that money, when Canada is making all of that money, it’s not the easiest negotiation.”
A White House spokesman told Reuters that there have been “no changes in the president’s position on NAFTA.”
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