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Factbox: What happens if the U.S. terminates NAFTA

Reuters  |  TORONTO 

TORONTO (Reuters) - U.S. President Donald Trump said on Saturday he would soon give formal notice to the U.S. Congress to terminate the North American Free Trade Agreement (NAFTA), giving lawmakers six months to approve a new trade deal between the United States, Mexico and Canada to replace it.Trump said that if U.S. lawmakers don't approve the new agreement, then the three countries would revert to the rules of trade that existed before NAFTA came into effect in 1994.It is unclear if Trump has the legal power to terminate NAFTA in the way he has threatened. The opposition Democratic party ...

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First Published: Wed, December 05 2018. 19:53 IST