A published report says President Donald Trump planned to give Canada and Mexico five days notice that the U.S. intended to leave the North American Free Trade Agreement.
The Financial Times says it received a leaked draft executive order that Trump had originally planned to sign on Saturday before back-tracking and agreeing to renegotiate the trade pact.
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President Trump calls Canada a ‘disgrace’; calls NAFTA a ‘trading disaster’
A copy of the draft order posted online by the Financial Times says Canada has “continued to exploit the American dairy and lumber industries.”
The document blames NAFTA for a “massive transfer of wealth” from the United States, the loss of 700,000 jobs and a more than $1-trillion trade deficit with Mexico since the agreement was enacted in 1993.
READ MORE: Trump’s NAFTA flip-flopping a classic negotiation ploy, trade experts say
It also states NAFTA is responsible for “waves” of illegal immigration and the closure of “tens of thousands of factories and manufacturing establishments” in the U.S.
On Thursday, Trump insisted he wasn’t bluffing about threatening to pull out of NAFTA, but said he had a change of heart during phone calls with Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto.
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