NAFTA Withdrawal 'Would Be a Grave Mistake,' Chamber of Commerce CEO Says
The U.S. should look at strengthening existing trading partnerships rather than consider leaving them, U.S. Chamber of Commerce CEO Thomas Donohue said in a Jan. 10 speech. "Withdrawing from NAFTA would be a grave mistake," he said. While recent deregulatory…
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moves and tax reform are good, "a wrong move on NAFTA would send us five steps back," he said. That's also true of the FTA with South Korea, he said. "We agree that in some areas the Koreans need to do more to faithfully implement the deal," Donohue said. "But overturning it would hurt American farmers and manufacturers -- and benefit only our foreign competitors." There are opportunities for trade growth, particularly with India, the Middle East and Africa, he said. "We need to clinch new deals that will open markets -- not undermine the ones we have."