US, Mexico ready to sign new NAFTA without Canada

US, Mexico ready to sign new NAFTA without Canada

Canada is facing another USA deadline to make a deal: the end of the month. It is possible that Congress, which strongly prefers an agreement involving Canada, would allow Canada to be added to the U.S. -Mexico text at a later date.

Canada is not making concessions needed to reach a deal with the United States for a trilateral NAFTA pact and is running out of time before Washington proceeds with a Mexico-only agreement, a top USA official said on Tuesday.

"We’re certainly not going to give up", he said.

"If we push it beyond that day then we have a new negotiation with [incoming president] Lopez Obrador and that’s. we don’t know where that would go at all".

MacNaughton, speaking Wednesday in Toronto, said Canada wants to reach a deal that Trump can hail as a victory but nevertheless has red-line issues, including the need for dispute panels and protection from tariffs.

Lopez Obrador’s election platform had a nationalist bent. But there is little chance of a last-minute deal, according to a senior administration official, who asked for anonymity to discuss confidential talks.

"The best foreign policy is domestic policy", Lopez Obrador has said several times publicly. Under U.S. trade rules, the Trump administration was given authority to negotiate a three-way deal. Both economies depend heavily on USA customers, with Mexico sending about 80 percent of exports to the United States and Canada sending about 75 percent. "Hopefully, we’ll end up with something with Canada". How to watch today’s Premier League football online […]

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US, Mexico ready to sign new NAFTA without Canada

US, Mexico ready to sign new NAFTA without Canada

Mr. Lighthizer also suggested that Canada and Mexico can not expect swift relief on steel and aluminium tariffs, which the US imposed on its NAFTA partners in June. "If you can’t have some curb on the arbitrary use of tariffs under the guise of national security, with a member of NORAD and somebody who is your closest defence partner, then I don’t think it’s much of an agreement".

But the administration’s use of provisions meant to protect industries vital to national security is controversial, and now subject to a challenge at the World Trade Organization from countries who believe they unfairly manipulate global trade to the U.S.’s benefit.

"One of the things in my many conversations with President Trump on the issue of 232 tariffs writ large and, indeed, specifically was his insistence that while if we renegotiate NAFTA, if we get to a NAFTA deal, there will be no need to worry about these other things", Trudeau said in NY, following the United Nations General Assembly.

"If Canada comes along later, then that’s what will happen", he said.

The United States and Canada are divided over the best way to resolve trade disputes and on a USA demand for more access to Canada’s protected dairy market.

At a Toronto event sponsored by Politico Wednesday morning, Canada’s ambassador in Washington said he had no talks planned this week for last-minute deal-making, although he could return quickly if required.

Separately, analysts with Fitch Ratings told Bloomberg that tariff or trade shock that could result from Canada […]

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