President Trump is preparing an executive order that would withdraw the U.S. from the North American Free Trade Agreement, according to reports.
The edict, which is still being reviewed, would terminate the Clinton-era trade pact between the U.S., Canada and Mexico, Politico first reported Wednesday.
The threat of withdrawal could be a ploy to spark renegotiations between the triumvirate, officials told CNN.
Trump has labeled NAFTA “the worst trade deal” and a “disaster.” He has vowed to rework the agreement in favor of the U.S. or end it altogether.
‘You’re fired, NAFTA’: Donald Trump’s message to agreement
An official who spoke on the condition of anonymity said a number of options remain on the table, and discussions are ongoing about the best way to proceed.
Critics argue that scuttling the 23-year-old deal could have devastating effects on the economy.
Lawmakers, including a number of Trump’s fellow Republicans, balked at the idea of backing out.
“Withdrawing from #NAFTA would be a disaster for #Arizona jobs & economy — @POTUS shouldn’t abandon this vital trade agreement,” Sen. John McCain (R-Ariz.) tweeted.
With News Wire Services
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