Trump to scrap TPP, renegotiate NAFTA

U.S. President Donald Trump could sign an executive order as early as Monday intended to renegotiate the free trade agreement between the U.S., Canada and Mexico, NBC News reported, citing an unidentified White House official. In addition to wanting to renegotiate the North American Free Trade Agreement (NAFTA), the new Republican President also intends to sign an executive order pulling out the Trans-Pacific Partnership, NBC reported. Mr. Trump, who was sworn in as the 45th U.S. President on Friday, targeted both trade pacts during his White House campaign.

Officials were not immediately available to confirm the report to Reuters. The President said on Sunday that he will plan talks soon with the leaders of Canada and Mexico to begin renegotiating NAFTA. “We will be starting negotiations having to do with NAFTA,” Mr. Trump said at a swearing-in ceremony for his top White House advisers. “We are going to start renegotiating on NAFTA, on immigration and on security at the border,” Mr. Trump said during the campaign he wanted to secure more favorable terms for the U.S. in the NAFTA pact.

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