Trump, NAFTA and Global Trade | US & Canada

Canadian Foreign Affairs Minister Chrystia Freeland will meet again with US Trade Representative Robert Lighthizer

Canadian Foreign Affairs Minister Chrystia Freeland will meet again with US Trade Representative Robert Lighthizer

"I have now been working with Ambassador Lighthizer and his team for more than a year".

Hours later, President Trump tweeted an article written by Breitbart News Economics and Finance Editor John Carney about the missed deadline and what's next for the negotiations.

Mr. Trump's Saturday warning comes a day after US and Canadian negotiators failed to reach an agreement on Friday, a deadline he set, to revamp the trade deal that includes Mexico. "If we don't make a fair deal for the United States after decades of abuse, Canada will be out", Trump said on Twitter.

He went on to warn United States lawmakers against involving themselves into the negotiations, tweeting that should they do this he "will simply terminate NAFTA entirely and we will be far better off".

Fox News Senior Capitol Hill Producer Chad Pergram with the latest on the Trump administration's trade negotiations with Canada.

Trump's renewed threat to withdraw from NAFTA comes as U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland are set to resume negotiations Wednesday.

In a press conference Friday afternoon, Freeland said Canada and the US were working hard to reach a compromise and that the two countries "now understand each other's position very well".

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The US wants Canada to open up access to American dairy products, extend patent protections for medicines and agree to eliminate worldwide panels to resolve most disputes between investors and governments. Talks on a new trade deal started a year ago but bogged down over US demands, including some meant to return manufacturing to the United States.

"This whole thing about NAFTA is much ado about nothing", David Stockman said during an interview on Friday with FOX Business' Dagen McDowell. That letter started a 90-day required notice period for Congress before the president can legally sign a new deal. "It is clear the US economy is much bigger than ours, but trying to embarrass the Canadian team, trying to insult Canadians, is not going to get him anywhere".

"The approach the Trump administration has taken - "my way or the highway" - doesn't seem created to get to yes", said Michael Camunez, CEO of Monarch Global Strategies who served in President Obama's Commerce Department.

Sources also confirmed to Global News on Friday that Canadian officials confronted their American counterparts during trade talks about remarks allegedly made by Trump saying the possible NAFTA deal with Canada would be "totally on our terms".

Trump then admitted to "scaring the Canadians into submission by repeatedly threatening to impose tariffs".

And despite earlier suggestions that he may cut Canada out of the agreement altogether, Trump is hoping Ottawa can be brought on board, too. The talks were constructive, and we made progress.

But simply pulling out of NAFTA may not be as clear-cut as the president suggested in his message, according to several trade experts. "Canada has a lot at stake in the fate of the North American Trade Agreement". Unlike the previous Chinese imports subject to USA tariffs, this larger group of goods includes parts and materials that US companies depend on, along with consumer goods.

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