US President Donald Trump's Tarrifs: NAFTA (CANADA, MEXICO), Trump’s Policies Affecting US Jobs and World Economic Growth
The U-S president has repeatedly denounced the North American Free Trade Agreement also known as NAFTA. Donald Trump has threatened to walk away from the treaty describing as the worst trade deal. The agreement between the US, Canada and Mexico governs trade to the tune of 1-trillion dollars. Several rounds of talks aimed at salvaging the deal have been unsuccessful. Trump a sunset clause of five years included. This requires the agreement to be reevaluated every five years. The clause also allows any country to withdraw from the agreement at every 5 year interval. Canada has staunchly rejected this condition.
Meanwhile, The Bank of International Settlements says rising protectionism could upset a year of what it described as vintage economic growth. In its annual report, The BIS gave credit to a decade of extraordinary monetary policy for leading the world out of the 2008 financial crisis. However with Trumps America First policy and global trade tensions, the central bank of all central banks has warned of trouble ahead. The view is shared by many international groups, including the World Trade Organization.
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