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Trudeau says he's ready for the end of NAFTA if it comes

Trudeau says he's ready for the end of NAFTA if it comes”

Harper was not optimistic about a satisfactory agreement in light of deep damage done to the USA economy by free trade generally.

Freeland describes the US administration as the most protectionist since the 1930s while noting the United States runs a surplus in the trade of goods and services with Canada.

"It's possible we won't be able to reach a deal with one or the other".

Trump added that a "very creative" deal was still possible to benefit all three countries.

What anything could look like was raised by U.S. President Donald Trump in his talks with Trudeau earlier Wednesday at the White House.

Asked about Trump's comments at a news conference later, Trudeau said he was still optimistic about the chances of modernizing the 1994 trade pact. "We have to protect our workers".

In the negotitations, Canada is working for a better labour and environmental provisions. Among them, slashing access to US government procurement bidding, a "sunset" clause that would end NAFTA in five years unless all countries renewed it, and weakening or killing dispute resolution mechanisms.

The negotiations are being held at the demand of Trump, who this week repeated his threat to pull the US out of the 23-year-old accord.

Hosting the Canadian prime minister at the Oval Office, Trump said the U.S. had "a tough negotiation" over NAFTA ahead, which also includes Mexico, adding that it had to be fair to all countries. "The problem is that we are running against a clock", he says. That will "almost certainly be reflected in both US and Canadian capital markets", he said, adding the impact will be far worse on the northern side of the border. He is to meet the Prime Minister of Canada Justine Trudeau on Wednesday for a fourth round of trade negotiations.

But on the North American Free Trade Agreement, Trump showed no signs of retreat. We're going to do well.

The country's foreign relations secretary said this week it would not be a big deal for Mexico to just walk away from the talks, and that Mexico won't accept "limited, managed trade", an apparent reference to demands for higher US and regional content rules on products like auto parts.

The committee chair, Republican Kevin Brady, called the countries, "great allies", and said, "when North America wins, America wins".

The proposals call for North American content overall to rise to 85 percent from the current 62.5 percent. For auto parts, the United States' deficit with Mexico was $100 million in 1993; it was 200 times larger by 2016, at $23.8 billion.

"These will be met with widespread opposition from Canada and Mexico".

USA proposals include limiting the number of federal government contracts that Mexican and Canadian companies can win, a provision that would cause the deal to automatically expire in five years unless all three countries vote to renew, and changes in how much of a product needs to be made in North America to come under Nafta protections.

U.S. Trade Representative Robert Lighthizer kicked off the latest round by announcing an agreement on a chapter on competition.

"Instead of encouraging more US content, these provisions will lead to less USA content", Wilson said. The negotiations were extended on Wednesday by two days to Oct 17.

The top US business group pledged to fight to preserve the pact, a congressional committee said it was committed to successful talks, and Mexico signaled it can live without the accord.



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