Trump Threatens to Scrap NAFTA

The British aren't the only ones who want to rip up trade deals. Donald Trump, speaking at an aluminum scrap company in Pennsylvania on Tuesday, slammed the NAFTA pact with Canada and Mexico and warned that as president, he will either seek a better deal or scrap the deal entirely, reports Reuters. "I'm going tell our NAFTA partners that I intend to immediately renegotiate the terms of that agreement to get a better deal for our workers. And I don't mean just a little bit better, I mean a lot better," Trump said, describing the 1993 pact as one of the "worst legacies" of Bill Clinton's administration.

"They're so used to having their own way," Trump said of Canada and Mexico, warning that he will be prepared to trigger the pact's Article 2205, which gives six months' notice of withdrawal. Trump's "Declaring American Economic Independence" speech—delivered the day before the "Three Amigos" NAFTA summit in Ottawa —was his most detailed talk on trade yet, and highlighted his firmly protectionist policies, CTV reports. Trump praised Britain's vote to leave the European Union and strongly criticized both the Trans-Pacific Partnership trade deal and China's 2001 entry to the World Trade Organization. (More Donald Trump stories.)