Canada's foreign minister, Chrystia Freeland, spent most of her time on visits to the US lobbying governors and congressmen rather than talking seriously to our trade negotiators. The U.S. also doesn't want to include a provision from the original NAFTA deal, called Chapter 19, which created an independent review process for resolving disputes when one country accuses another of subsidizing or "dumping" their goods.
Analysts at ANZ Bank New Zealand, (ANZ), explained that the U.S. and Mexico have reached a trade agreement that will replace a soon-to-be-terminated NAFTA bill, according to both Presidents in a joint announcement.
Officials said they hope Canada will agree to the terms by Friday, when the White House plans to formally notify Congress that Trump will sign the deal in 90 days.
Farmers for Free Trade, which represents pork producers, corn growers and others, has spoken frequently of the risks to farmers of the president's efforts to re-write trade relationships. Trump retorted that his Canadian counterpart was "very dishonest and weak". "I think with Canada the easiest things we can do is tariff their cars coming in", Trump insisted. Yet the preliminary agreement announced Monday is far from final.
Whatever it's called, the deal appears significant, but it lacks detailed specifics.
"The president wants to make a constructive deal that's great for the United States and Canada, but if not, he has said with great clarity we may be forced to go automobile tariffs, Canadian automobile import tariffs", Larry Kudlow said during an interview with FOX Business' Stuart Varney on Tuesday.
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Prof. Leblond said it would be political suicide for Trudeau's Liberal administration, with one year before a general election, to give in to USA demands for significantly greater access to Canada's protected dairy market. It also mandates 40 percent to 45 percent of content will be made by workers earning at least $16 an hour.
Instead, senior United States officials told reporters the agreement had been extended for 16 years but would be reviewed every six years.
Hatch recalled that Canada is the top export market for 36 of the US's 50 states (the top export market for several of the remaining states is Mexico, particularly those on the US's southwest border).
In Mexico, the benefits seem limited, despite an increase in jobs outsourced from the United States.
But Trump's claim was met with immediate pushback from the president of Mexico, who had been patched into the makeshift press conference by speakerphone. That aim also may lie behind his comment that "we'll see" whether Canada remains a part of the trade deal.
"I believe this should stop the bleeding in Canada". It also requires that 75 percent of the parts of cars sold in North America be produced in the USA or Mexico.
Canada's NAFTA negotiator, Foreign Minister Chrystia Freeland, is cutting short a trip to Europe to fly to Washington Tuesday to try to restart talks. An aide to former Conservative trade minister Ed Fast argued that the only way Congress might approve such a deal is if Canada walked away from the negotiations, which the Trudeau government has consistently ruled out.