Economy

U.S., Canada slug it out as deadline looms to clinch NAFTA

U.S., Canada slug it out as deadline looms to clinch NAFTA”

Canadian Foreign Minister Chrystia Freeland returned to Washington on Tuesday for talks aimed at rescuing the North American Free Trade Agreement as time was running short before an October 1 deadline.

Prime Minister Justin Trudeau said just last week that the process was needed, because Trump "doesn't always follow the rules." Freeland is scheduled to attend the Liberals' caucus retreat Wednesday in Saskatoon and it's unclear whether she will return to the US capital late in the week. After more than a year of talks, Canada and the United States are still trying to resolve differences over the North American Free Trade Agreement, which also includes Mexico.

Numerous American officials, including U.S. Agriculture Secretary Sonny Perdue and Trump's top economic advisor Larry Kudlow, have said a new NAFTA must see movement from Canada on dairy.

The in-person, high-level negotiations got back underway as events marking the 17th anniversary of the 2001 attacks took place around the US, including at the Pentagon with Vice President Mike Pence, not far from where the trade meetings are taking place.

"President, I recommend we accept this deal with Canada; it's not flawless, but it's a good deal, ' then I think he takes it,"' Mulroney said.

But if anything has encapsulated the shift since then, it has been the hard renegotiation of the North American Free Trade Agreement, which has dragged on for some 13 months already - and is only one part of the ongoing cross-border trade dispute.

"An early harvest in the area of technical barriers to trade" could come as soon as November, the office said, according to the Financial Times.

"Canada wants to make a deal".

The trade ministers are set to meet again at the end of the month.

US dairy farmers have long demanded more access to Canada's market and also are unhappy about a Canadian decision to allow farmers to sell milk protein products to the country's processors at a lower price, cutting off American supplies.

"Without Chapter 19, NAFTA is utterly useless as it would subject Canada and Mexico to the vagaries of the US political system and its courts when determining trade policy actions", said Derek Holt, vice-president at Scotiabank Economics, in a note recently.

Daniel Ujczo, a US trade lawyer who has worked for both the Canadian and the USA governments, rejects the notion that Canada and the United States are at a stalemate.

"I don't think President Trump will go to the mat over Chapter 19. The ruination of the country", Trump said at an event in North Dakota.

The latest talks between Canada and the United States have been intense but constructive, marking a departure from acrimonious tit-for-tat that surrounded past rounds.

"We have been very clear on that, that there can not be more access given", Wiens said in a telephone interview.

Trump added a layer of urgency to the negotiations late last month after announcing his deal with Mexico.

"Forget what you read about NAFTA negotiations and Twitter wars".



Like this

loading...
loading...

Latest


14 September 2018
Preparation And Resilience As Hurricane Florence Approaches
The NHC notes that amount of rainfall would "produce catastrophic flash flooding and prolonged significant river flooding". An estimated 10 million people live in areas expected to be under a hurricane or storm advisory, according to the U.S.

14 September 2018
Novak Djokovic wins men't title in U.S. open Tennis
Leading 4-3, Djokovic caught Del Potro off guard with his exceptional patience and strong strokes to break Del Potro's serve. Djokovic, up a set, was serving at 3-4 when the two proceeded to play 23 points.

14 September 2018
OnePlus 6T confirmed to have no headphone jack
When pressed on why said jack not included, Pei gave similar answers to those given by Apple, Razer, and others . The product listing has been spotted on Giztop , which also lists the price of the upcoming OnePlus flagship.

13 September 2018
Everything you need to know about Hurricane Florence
Cooper said 108 shelters are open across the state, with more than 7,000 people already staying at them, as of Thursday afternoon. More flights were expected to be grounded and more airports were preparing to shut down operations as the storm moves inland.

13 September 2018
Bracing for Hurricane Florence | Don't Miss This
However, the surge is expected to be accompanied by large and destructive waves, regardless of when the storm arrives. With about $30 billion in damages, Hurricane Ike was, at the time, the second-costliest US hurricane on record.

13 September 2018
Nike shares now higher than pre-Kaepernick ad level
While the campaign featuring Kaepernick angered many conservatives, some market analysts called it "a stroke of genius". Another tiny college, The College of the Ozarks, has removed all uniforms purchased from Nike that have Nike's logo.

13 September 2018
Bob Woodward’s Trump Book Sold 750,000 Copies on First Day of Publication
Similarly, The New York Times op-ed prompted a parade of statements from top administration officials denying responsibility. Some former White House officials who spoke with Woodward have tried to distance themselves from the book.

13 September 2018
Tony Finau named to last spot on USA Ryder Cup roster
Finau, who recorded top-10 finishes in the first three majors of the season, finished 15th in the final U.S. Throw in Woods and Mickelson, and that gives the USA team a lineup that has combined for 31 majors .

13 September 2018
Trump Insults Puerto Rico Mayor Following Hurricane Maria Remarks
The Puerto Rican government revised Hurricane Maria's official death toll from 64 to 2,975 last month following the study. Overall, compared with Harvey and Irma, Maria saw more funds loaned to homeowners rather than business owners.

13 September 2018
Lexus unveils world's 1st digital outer mirrors
The cameras even automatically adjust their field of focus when a turn signal is activated, or the vehicle is put into reverse. Interestingly, the brand says the digital mirrors are shaped to "resist the accumulation of raindrops and snow".