AAFA Cautions President Against Terminating NAFTA Prior To Implementation of USMCA
December 2, 2018 | WASHINGTON, D.C.
Rick Helfenbein, president and CEO of the American Apparel & Footwear Association, cautions the Trump administration against terminating the North American Free Trade Agreement prior to the ratification and implementation of the new U.S.-Mexico-Canada Agreement, following reports that they will give a formal termination notice to Congress.
“Terminating NAFTA before USMCA is ratified will definitely create economic havoc and uncertainty for American companies who conduct business in the region,” said Helfenbein. “Following the successful trilateral signing of the USMCA agreement, this action undermines the trust that has been established since the conclusion of negotiations. We have continuously told the Administration throughout the USMCA process that it is essential for the new agreement to be implemented seamlessly, so that our businesses can learn the new rules and have time to adjust our supply chains to take advantage of the deal. Adding additional pressure on Congress to sign or fail is not in the best interest of America.”