Trump: Tariff Reductions in Exchange for NAFTA Rework

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President Trump warned Canada and Mexico that tariffs on metal such as steel and aluminum will only “come off” if the nations reach a deal on a new trade agreement with the United States.

“We have large trade deficits with Mexico and Canada. NAFTA, which is under renegotiation right now, has been a bad deal for U.S.A. Massive relocation of companies & jobs. Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed,” he tweeted on Monday.

Trump abruptly announced last week that he seeks to impose tariffs of 25% on imported steel and 10% on aluminum, a move that shook the stock market, shocked Republicans and angered US allies.

During the 2016 presidential campaign, Trump referred to the North American Free Trade Agreement “the worst trade deal ever signed anywhere” and vowed to both renegotiate the Clinton-era pact or scrap it fully.

In his Monday tweets, he blasted America’s northern and southern neighbors.

“Also, Canada must treat our farmers much better. Highly restrictive. Mexico must do much more on stopping drugs from pouring into the U.S. They have not done what needs to be done. Millions of people addicted and dying,” he stated.

The president was continuing a theme he started late Sunday when he tweeted about trade deals and his plan on tariffs.

“We are on the losing side of almost all trade deals. Our friends and enemies have taken advantage of the U.S. for many years. Our Steel and Aluminum industries are dead. Sorry, it’s time for a change! MAKE AMERICA GREAT AGAIN! ,” he wrote.

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