USA and Canadian trade negotiators on Tuesday completed a day of talks on the North American Free Trade Agreement (NAFTA) with reaching a final deal. President Donald Trump, in a story that appeared in Automotive News Canada, said Friday that while "I don't want to do anything bad to Canada".
The two sides must submit an agreed-upon text to the U.S. Congress by October 1 in order to join the agreement the U.S. with Mexico last month.
Canadian Foreign Affairs Minister Chrystia Freeland speaks to the media as she arrives at the Office Of The United States Trade Representative, Tuesday, Sept. 11, 2018, in Washington. "The average part that goes into the Pacifica in final assembly crosses the border six times", Dilkens said. "People are kind of sitting on the sidelines thinking, 'How will this affect us in the future?' If we were to lose the auto industry here that would put us into some type of recession", Chiodo said, noting that the auto trade has "always been pretty fair" for both the USA and Canada. "You can't fix NAFTA without fixing issues with Canada", said Senator Ron Wyden, the top Democrat on the Senate Finance Committee, which oversees trade.
Canada wants a permanent exemption from Trump's steel and aluminum tariffs, and removal of the threat of auto tariffs.
"Our farmers don't have access to the Canadian markets the way that they have access to us".
"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.
Trump is threatening to move ahead on a deal without Canada.
Freeland returned to Washington on Tuesday to continue meeting with her United States counterpart.
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.
On Friday Freeland told reporters the 13-month-old NAFTA talks had entered a "very intense" phase of "continuous negotiations".
"We're neighbours and neighbours help each other when they need help".
As a result of what Freeland described as their "hard work", officials decided it would be best to hold a meeting.
"When it comes to Trump tweets there's a discount premium to them", said Carleton University professor and foreign policy expert Fen Hampson, who advises Trudeau to "hunker down, say nothing, not rise to the bait".
Last week, as the The Globe and Mail reported, Mr. Trump's trade chief, Robert Lighthizer, refused Ottawa's key demand, the preservation of the Chapter 19 dispute-resolution system, in order to extract maximum concessions from Canada on its protected dairy market and pharmaceutical patents.
Canada's main stock market started the week down for seventh-straight day amid an off-day for any headlines on NAFTA as negotiations are set to resume Tuesday. Freeland is scheduled to attend the Liberals' caucus retreat Wednesday in Saskatoon and it's unclear whether she will return to the USA capital late in the week.
He professes to have American interests at heart in his hard-line handling of Canada in these ongoing NAFTA negotiations. "They're really hammering this out", said Orr, who is now senior global trade adviser for a Washington law firm.
"Sure, it's business and it's important, but Gander is the place that - in a snapshot - illustrates the Canada/US relationship".
"We're just going to stay working constructively to get to that win, win, win that we know is there". While China/US tensions have seemed to support the dollar, with the US seeing as to have the upper hand, NAFTA progress should be CAD and commodities which would ultimately weigh on the greenback and potentially lift the price of gold - well, at least that is what we have seen in the late hours of US trade.