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In reply to the discussion: White House readies order on withdrawing from NAFTA [View all]BumRushDaShow
(128,748 posts)"North American Free Trade Agreement" which does not cover "Europe or Asia", it covers Canada/Mexico/Caribbean. The House has already submitted a bill to kill the TPP (which is Europe/Asia).
They could however attempt to (or probably will HAVE to) renegotiate bilateral trade agreements with say the UK since the UK is dropping out of the EU. That type of agreement would fall under that fast-track authority. I also wouldn't put it past them (since this country has now been put under the mantle of Russia) to try to kill all the Russian sanctions and attempt a trade agreement with Russia (using that authority).
The President can start negotiations on a new trade bill with Canada & Mexico and if they want, Congress can pass legislation to do a fast-track of that - which really means, limiting any changes, amendments, debate on the final agreement. Then the Senate would need to ratify whatever new treaty is created (with 67 votes, which would be real tough given the current Senatorial makeup)!