Mexico, China, and the European Union have 'screwed' us on trade, says Donald Trump.
Trump reveals to Maria Bartiromo his desire to renegotiate trade agreements that he believes are disadvantageous to the US.
If he wins in November, one of former President Trump's top plans is to renegotiate international trade deals, as he stated on "Sunday Morning Futures." He added that America has been "screwed" by Mexico, China, Canada, and the European Union.
"A good business person would always think of ways to improve things. I got a clause that allows me to renegotiate [the USMCA]. Who else would come up with that idea except a business person? I'm a really good one," Trump said in an exclusive interview with Maria Bartiromo on Sunday.
He continued, stating that we have been disadvantaged by Mexico, China, Canada, and the European Union.
The former president put forth a new U.S.-Mexico-Canada Agreement as part of his initiative to stimulate the domestic job market and revitalize the auto industry.
Trump previously stated on the 2024 campaign trail that he would impose a 200% tariff on all Chinese auto imports from Mexico, rendering them unsellable in the US.
The International Trade Administration reports that Mexico is the largest export market for U.S. automotive parts and the fourth-largest producer of automotive parts globally.
In 2023, Mexico's share of the U.S. auto parts imports market rose from 38% in 2017 to 42.5%, as reported by multiple Latin American business news outlets.
The former president stated on Sunday that he had added a clause to the car industry deal, which was the most challenging for him to negotiate. He wanted to have the ability to monitor the deal's progress and renegotiate it.
"NAFTA was a terrible deal, and I didn't mind not making a deal. The problem was that there were mistakes in the agreement, including typos, which were not corrected for 30 years. I signed NAFTA with the understanding that it would be reviewed and corrected, but it wasn't. I made it clear that I would not make a deal unless the mistakes were fixed."
While in office, he boasted about his past trade accomplishments, including deals with Japan and South Korea. He stated, 'I negotiated with them, and we have 40,000 soldiers stationed overseas.'
"I left Iran when it was broke," Trump stated. "I told China, 'You can't buy oil from us, and if you buy one barrel, we won't do any business with you in the U.S. You're out. We're going cold turkey.'"
Planet Chronicle Digital's Alec Schemmel contributed to this report.
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