Some of the Republican Party’s biggest powerhouses have made it clear that should President Trump follow through with his promise to scrap the North American Free Trade Agreement (NAFTA).
Senators John McCain (AZ), Jeff Flake (AZ), Lindsey Graham (SC), and Senate Majority Whip John Cornyn (TX) expressed strong caution against Trump signing an executive order to withdraw from NAFTA.
Politico reports that a draft executive order was in its final stages of development, and that it would set a date-specific deadline to terminate the agreement. The draft was written by Peter Nevarro, Trump’s head of the National Trade Counsel, and the controversial Steve Bannon.
“It’s been very, very bad for our companies and for our workers, and we’re going to make some very big changes or we are going to get rid of NAFTA once and for all,” President Donald Trump said in a speech last week. | Getty[/caption]
TIME Magazine reports John McCain said any attempt to withdraw from the 23-year-old agreement between Canada, Mexico, and the United States would “be disgraceful and a disaster.” Flake added that the move would compromise the economics in both his home state and the nation at large.
Senator Graham noted that while renegotiating the agreement could yield favorable results for all parties, withdrawing wouldn’t make any sense. Cornyn added, “I think we’d better be careful about unintended consequences.”
An estimated 14 million American jobs would be at risk should Trump completely withdraw from NAFTA.