UK could join renegotiated NAFTA

UK could join renegotiated NAFTA The Channel Group

The UK could become an associate member of the North American Free Trade Area (NAFTA). The proposal was first put forward by US Senator Newt Gingrich, and Mr Gingrich is now tipped to become Donald Trump’s Secretary of State or chief of staff.

Trump has previously promised to rip up or substantially renegotiate the deal. New Canadian Prime Minister, Justin Trudeau, has signalled that he is willing to renegotiate after Trump becomes president in the new year.

The renegotiated deal could include the UK, becoming the North Atlantic Free Trade Area.

When the idea was first proposed by Mr Gingrich in 1998 it was backed by Margaret Thatcher but condemned by the Labour government.

Conservative MP Jacob Rees-Mogg praised the idea, saying:

“What could be bad about it? As long as it does not stop us doing free trade deals with other people too.

“This is one of the great virtues of Brexit – we can look at all these things and if we think they are good we can tag along.

“From a Canadian point of view it is complementary, we would not really upset their vested interests, which Mexico does much more.

“This is one of the great virtues of Brexit – we can look at all these things and if we think they are good we can tag along.

“We should follow up every opportunity because that is the wonderful position we are in – it is such an exciting position for the UK to be in. Prior to 23 June we could not have had this discussion.”

The Channel Group

The Channel Group is an independent think tank established to champion free trade.

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