Trudeau Threatens Relationship With The U.S.

A New NAFTA Without Canada? Unions and Tech Push Back Against Trump's Mexico-Only Deal

Toting popsicles for the waiting press in a sweltering Washington, Canadian Foreign Minister Chrystia Freeland repeated earlier remarks about the negotiations making progress as she entered the US Trade Representative offices in the capital to meet with Robert Lighthizer, Trump's top trade official.

Trump has notified Congress that he intends to sign the trade deal reached last week with Mexico by the end of November, and officials said the text would be published by around October 1.

While much remains uncertain about the details of what Trump calls the "U.S. -Mexico Free Trade Agreement" - which may not receive congressional approval if the Democrats reclaim the House in November - some things are relatively clear.

Prime Minister Justin Trudeau is defending NAFTA's dispute resolution mechanism as necessary in a world where the president of the United States "doesn't always follow the rules".

The notice had to be sent Friday for Mexico's outgoing government to sign the new deal before it leaves office December 1.

Talks on renegotiating the NAFTA began in August 2017 as Trump threatened to withdraw from the trilateral trade deal, which he claimed harmed US industries and jobs.

ENERGY: Benchmark U.S. crude declined 76 cents to $69.11 per barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price global oils, shed 64 cents to $77.51 per barrel in London.

The problem for Trump is that US business and farm groups as well as a broad bipartisan swath of legislators say they will oppose any deal that doesn't include Canada.

In the past, Trudeau has connected the issue to bilingualism - as an important tool to protect culture, languages, creative sectors and artists.

"A lot is hanging on these talks and what they can accomplish and I think the market right now is basically taking a wait-and-see approach", he said in an interview. Nor had it made much of a ripple in public discussions on NAFTA, except during some testimony at a few US hearings, experts say.

"I think that it's not necessarily a disaster", she said.

However, U.S. President Donald Trump wants Chapter 19 scrapped.

Some of the United States' 40,000 dairy farmers say they have also been hurt this year by tariffs imposed by China and Mexico in retaliation to those imposed by President Trump on imports of steel and aluminum.

Freeland told reporters at the close of her Wednesday meeting with Lighthizer that she couldn't predict when the two sides would come to an agreement, saying nothing is settled until everything is settled.

"A stronger us dollar which is bad for emerging markets, not good for trade, commodities are all weaker and as a result Canadian equity markets are in the red for the most part".

Trump almost tore up the NAFTA pact past year after visiting farmers in Wisconsin, a major US dairy producer that Washington says has been hurt by Canadian protectionism.

The grueling talks are aimed at getting to join a tentative U.S. -Mexico agreement to replace the 24-year-old NAFTA.

If Trump follows through and excludes Canada from NAFTA 2.0, it would raise concerns in Canada, whose economy is heavily reliant on trade with its neighbor. I'm guessing that's because the United States side has an offer to make.

Chicago Tribune: "Car prices projected to increase under Trump trade agreement with Mexico" - "New vehicle prices will rise, along with demand for used cars, as a result of President Donald Trump 's tentative trade agreement with Mexico".



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