Trump Said To Sign Executive Order On Trans-Pacific Pact

"What kind of a precedent is [President Trump] going to set if he says, 'We're going ahead but we want something in exchange?'" he said. The new president officially killed the Trans-Pacific Partnership by formally revoking US participation in the 12-country trade pact.

WATCH: Patriotism, according to Trump, becomes the new measure of America. Trump threatened the auto companies with "a big border tax" for as much as 35 percent for imported vehicles. "We want to work with the USA government for a border that unites us and not divides us", he said in reference to Trump's campaign promise to build a wall along the U.S-Mexico border to keep out undocumented immigrants.

All three North American leaders spoke over the weekend, and each leader emphasized that any new trade deal should benefit all parties involved.

Before taking office, Trump expressed his intention to cut US trade deficits at a news conference on January 11, referring to trade with China, Japan and Mexico.

Worldwide businesses have complained about an out-of-date visa system that creates unnecessary red tape when employees travel across the border for work. It does not make sense to stay " said the official who added: "NAFTA has to come with a win-win strategy.

"I think that would be deeply unfortunate".

Thousands rally for Obamacare
Trump said his plan for replacing most aspects of Obama's health-care law is all but finished. Now, ahead of a Trump presidency, Warren wants to make sure these services remain in effect.

Jared Kushner, Trump's son-in-law, will travel to Calgary, Alberta, where Trudeau and his cabinet are holding a two-day retreat focused largely on the new USA administration. Chris Collins, who was the congressional liaison between lawmakers and Trump's presidential transition team, said he favours dealing with Canada and Mexico separately.

Scotty Greenwood, senior adviser to the Canadian-American Business Council, said Mr. Trump turning his attention to Canada is a good thing: Once the President takes a closer look at the bilateral relationship, he will realize how advantageous it is for both sides, she said. -Canada trade is "a model for the way that trade relations should be".

Trump has made no secret about his dislike for trade agreements such as the North American Free Trade Agreement and Trans Pacific Partnership.

Such a measure could affect Mexico's exports to the United States, its top trading partner. While proponents say the deal has many benefits, including providing Americans with lower-cost consumer products, critics said it has contributed to a loss of US manufacturing jobs. So I think we have to be mindful of that.

Mexico's Foreign Relations Secretary Luis Videgaray speaks to the press after meeting with Mexican senators in preparation for a trip to the USA, where he will participate in talks with members of President Donald Trump's government, in Mexico City, Tuesday, Jan. 24, 2017.

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