In Economic Speech, Trump Talks Trade and Projected Growth Rates

Donald Trump, a frequent critic of the Trans-Pacific Partnership, said the 12-nation trade deal would need to be “phenomenal” for the U.S. to be a part of it if he’s elected president.

“We’re going to keep America out of Trans-Pacific Partnership, unless we can do something that’s phenomenal, and I’m not seeing it right now, I can tell you that,” the GOP nominee said today in a speech at the the Economic Club of New York.

A campaign spokesperson did not immediately respond to a request for comment seeking clarification on whether Trump was saying he would renegotiate the TPP.

Trump, who has said Democratic opponent Hillary Clinton “lied” about her stance on the TPP, laid out his plan today for protecting U.S. economic interests abroad. He said he would crack down on foreign trade deal violations and World Trade Organization breaches, particularly from China, and renegotiate the North American Free Trade Agreement or terminate U.S. membership until a new deal is signed.

“We will entirely renegotiate NAFTA into a deal that will either be a good one for us as a country and for our workers, or we will terminate it until a brand new or productive deal can be signed,” he said.

“NAFTA has destroyed our country,” Trump said during a question-and-answer session after the speech. “We have a lot of catching up to do.”

Trump said his policies would result in an estimated 3.5 percent growth rate, on average, over the next decade and create 25 million new jobs. He said his ultimate goal would be 4 percent growth, which he said would pay for his tax overhaul plans.

The U.S. economy grew at a 1.1 percent annual rate last quarter and gross domestic product has expanded annually an average of about 2 percent under President Obama.