In what is sure to be good news for Texas business leaders, President Donald Trump is reportedly softening his stance on the North American Free Trade Agreement, which was signed in San Antonio, Newsradio 1200 WOAI reports.
A report in Axios quotes five sources who've spoken privately with Trump about NAFTA. They say he's taking more seriously the risks of withdrawing the U.S. from the trade deal with Canada and Mexico.
Economist Vance Ginn, with the Texas Public Policy Foundation, says that's a change in tone for the politician who ran on a platform of pulling out of NAFTA.
"This news will be well received in Texas, as we understand that opening our markets to more trade has benefitted the state over time," he says.
More than half of all the exports from Texas go to Mexico and Canada. Ginn says 40-percent go to Mexico alone."
Softening this trade stance, and hopefully moving to more freer trade, we'll see even more benefits," he believes.
President Trump recently spoke to the nation's farmers at the Farm Bureau's convention in Nashville, where he addressed the trade deal.
"On NAFTA, I’m working very hard to get a better deal for our country and for our farmers and for our manufacturers...It’s not the easiest negotiation, but we’re going to make it fair for you people again," he said.