NAFTA: Today’s agreement is a huge step in the right direction - Rabobank

U.S., Mexico reach NAFTA deal; talks with Canada to start immediately - Autoblog

U.S., Mexico reach NAFTA deal; talks with Canada to start immediately - Autoblog

President Donald Trump announced on Monday morning that the United States and Mexico have reached a trade agreement, and that he will be "terminating" the North American Free Trade Agreement.

A Canadian Foreign Ministry spokesperson said earlier on Monday that Ottawa was encouraged by "progress" between the U.S. and Mexico, but cautioned any new version of NAFTA would need to be beneficial for Canada before being signed off on by officials.

Canada's foreign minister and NAFTA negotiator Chrystia Freeland is cutting short a trip to Europe to fly to Washington on Tuesday to try to restart talks.

"We appreciate the hard work officials are putting into negotiating a modernized Nafta", the chamber, the largest USA business lobby, said in a statement. The talks have appeared to...

The recent push for a deal is in part to have it signed before the new president takes office in December.

Ron Bonnett, president of the Canadian Federation of Agriculture, said noted that other issues, such as dispute settlement, remain unresolved.

The agreement between the U.S. and Mexico on Monday was a significant marker in the yearlong effort to renegotiate the trilateral trade pact, sweeping away key obstacles impacting the U.S. and Mexico that had held up trilateral talks. "Trump was trying to emphasize that he's prepared to leave Canada out, even though the Mexicans are making it clear that they would prefer a trilateral deal".

"NAFTA wasn't broken and now they are fixing it, and they are fixing it in a way that will break it, or at least make it harder to trade", Kirke said. "A lot of people thought we would never get here because we all negotiate tough". Mexican President Enrique Pena Nieto has urged Canada to rejoin the talks. Details on other issues including dispute resolution and US rules on government procurement remained unclear. Among the list of items to be hashed out by the negotiating teams will be the dairy sector, a thorny issue over which President Donald Trump threatened further tariffs on Canada's vehicle industry if Freeland's team does not concede on policies.

French Open Bans Serena Williams’ ‘Black Panther’ Catsuit, Hollywood Backlash Ensues
She recently returned to tennis after a spell of maternity leave, and will compete in this year's US Open, beginning tomorrow. Among the other top contenders are in-form world number one Simona Halep, Stephens and Wimbledon champion Angelique Kerber.

A trade deal struck on Monday (Aug 27) between Mexico and the United States sent Wall Street soaring, with the S&P 500 and Nasdaq closing at fresh all-time highs. NAFTA reduced most trade barriers between the three countries.

Trump strongly campaigned on the issue of repealing or completely redoing NAFTA, a trade deal he argues was "terrible" for the United States and destroyed manufacturing in states across the country.

"I think it's an elegant name", Trump said at one point, and said the USA may, "just do a separate deal with Canada, if they want to make the deal".

"To obtain an agreement with Trump, the government of Mexico turned its back on a friend nation, Canada", Mexican analyst and columnist Alejandro Hope said on Twitter.

He announced the progress from the Oval Office, with Mexican president Pena Nieto joining in on speakerphone. But as the Oval Office pushback showed, there are more reasons than usual to be skeptical of Trump's sales pitch on the new free trade agreement.

"I desire, I wish that the part with Canada will be materializing in a very concrete fashion, and we can have an agreement the way we proposed it from the initiation of this renegotiating process, a tripartite", Peña-Nieto said through a translator.

But Flavio Volpe, president of Canada's Automotive Parts Manufacturers' Association, said that despite the increase to the rules of origin threshold, some companies may simply continue to buy parts from overseas and just eat the 2.5 per cent tariff. Moreover, the United States might first have to drop its higher tariffs on steel and aluminum imposed on Canada and Mexico earlier this year. "Canada's signature is required", spokesman Adam Austen said.

Canada has been absent from the NAFTA bargaining table since trilateral talks paused last spring.

Recommended News

  • Direct hit scuppers Martin Guptill as Mohammad Irfan magic can't save Tridents

    Direct hit scuppers Martin Guptill as Mohammad Irfan magic can't save Tridents

    The Patriots chased down the target in 18.5 overs for the loss of four wickets, with Brandon King getting 60 from 49 deliveries. Irfan has played a total of T20 internationals for Pakistan where he has taken 15 wickets with an economy rate of 7.25.
    ACTSCENE: 'Crazy Rich Asians' tops Box Office

    ACTSCENE: 'Crazy Rich Asians' tops Box Office

    In at 3rd was newly-released mystery " The Happytime Murders ", which took $9.5 million. For the sake of comedies in 2018, Crazy Rich Asians can't get rich enough.
    Tropical Storm Lane Now Quickly Weakening to the SSW of Oahu

    Tropical Storm Lane Now Quickly Weakening to the SSW of Oahu

    It's not known if the storm played any role in the start of several wildfires near the historical coastal town of Lahaina on Maui. Police on loudspeakers told surfers and swimmers to get out of the water, saying the beach would be closed until further notice.
  • Vietnamese praise John McCain for 'healing the wounds of war'

    Vietnamese praise John McCain for 'healing the wounds of war'

    Win or lose, these candidates won respect - even affection - from those who opposed them as well as from supporters. GettyA photo taken in 1967 shows US Navy Airforce Major John McCain being examined by a Vietnamese doctor.
    Smash Bros. Ultimate Gets a Custom Switch Pro Controller

    Smash Bros. Ultimate Gets a Custom Switch Pro Controller

    When it is available for purchase, Nintendo Switch owners will be able to buy it as a standalone product or as a bundle. A former fighter in Andross' army, the Wolf now leads his own mercenary team, and he's not one you want to cross.
    Mourinho demands respect in presser after Man U loss

    Mourinho demands respect in presser after Man U loss

    Following more defensive calamities, many were surprised when Mourinho was anything but prickly in his post-match interview with Sky Sports.
  • 2 killed in 5.9-magnitude Iran quake

    2 killed in 5.9-magnitude Iran quake

    The US Geological Survey reported that a shallow, magnitude 6.1 quake struck about 55 miles (88 km) west-northwest of Kermanshah . The epicenter of the quake was nearly 6 miles from the city of Tazehabad and about 19 miles from the city of Javanrud.
    Late Senator John McCain Remembered as 'True Supporter of Israel'

    Late Senator John McCain Remembered as 'True Supporter of Israel'

    Bowing to pressure, President Donald Trump on Monday ordered American flags at US buildings lowered to half-staff for Sen. At services there, McCain will be honored by several members of the Arizona congressional delegation.
    Air quality to get worse as smoke blows back in

    Air quality to get worse as smoke blows back in

    Before the smoke cleared out overnight, many municipalities reported heavier concentrations of the haze late Wednesday. A Spare the Air Alert is in effect for Friday, Aug. 24, for the San Francisco Bay Area, the 10th of the Summer Season.
  • Resident dies after contracting West Nile Virus

    Resident dies after contracting West Nile Virus

    The Maine Center for Disease and Prevention is reporting a Maine resident has tested positive for the West Nile virus. Ahead of Labor Day weekend, it is also important to note that mosquito activity is highest at dusk and dawn.
    Roseanne to be killed off on spinoff ABC show

    Roseanne to be killed off on spinoff ABC show

    Asked of his character, Dan's, future in the new series, Goodman said , "I guess he'll be mopey and sad because his wife's dead". The network's swift decision to pull the plug on the highest-rated sitcom of the 2017-2018 TV season was also shocking to him.
    Tesla Share Price Stumbles After Elon Musk Abandons Go-Private Plan

    Tesla Share Price Stumbles After Elon Musk Abandons Go-Private Plan

    Tesla earlier this year announced plans to build a battery and vehicle assembly complex in China. Analysts have suggested a capital raise may be required soon to boost investor confidence.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.