Friday, 20 July, 2018

Trump says he won't sign any NAFTA deal until after midterms

Canada's Foreign Minister Chrystia Freeland said the country will not back down on retaliatory tariffs Canada's Foreign Minister Chrystia Freeland said the country will not back down on retaliatory tariffs
Jay Anderson | 05 July, 2018, 08:02

"Clearly, I think after today, the ball's going to be in the US court and they'll just have several choices of paths they want to take and I'm hopeful the messages today are one's that indicate a constructive path", he said.

Trump called NAFTA as "the worst deal ever" during his campaign and presidency.

Canada's response includes imposing $16.6 billion worth of tariffs on a long list of consumer products that come from a wide range of sectors - from beer kegs, to ballpoint pens, to ketchup. "These actions will only lead to additional price increases in the residential and commercial building markets in both countries, hinder progress in the renegotiation of NAFTA and resolving the softwood lumber dispute". The winning candidate said he will make that proposal in a meeting Tuesday with current President Enrique Pena Nieto. And on this holiday, Canadian tariffs on almost $13 billion of US goods took effect.

Prime Minister Justin Trudeau made a stop in Regina on Canada Day.

"Canadians and- I'm telling you- Americans alike, don't want to see tariff escalation", he said.

Hours later, the White House released a statement that Trump had spoken to U.S. Secretary of Commerce Wilbur Ross "to consider initiating a Section 232 investigation into imports of automobiles, including trucks, and automotive parts to determine their effects on America's national security". These are all factors that point to a stalemate, said Moshe Lander, an economist at Concordia University. I think it will be very interesting.




"The two leaders agreed to stay in close touch on a way forward", according to the prime minister's office. "I think NAFTA is dormant for the next six to 12 months".

Separately, Trudeau also spoke with Mexican President Enrique Pena Nieto on Friday to discuss the Mexican elections on July 1.

President Trump says Canada has unfair trade policies and has a huge trade surplus with the U.S. Nonsense, says Gordon Ritchie, Canada's ambassador for trade negotiations in the 1980s.

The Chamber, the nation's largest business lobbying group and a traditional ally of Trump's Republican Party, said the White House is risking a global trade war with its push to protect USA industry and workers with tariffs.

Trudeau later spoke with Lopez Obrador on Monday, wherein they discussed their mutual trade interests and their "shared priority of updating the North American Free Trade Agreement for the betterment of their peoples", said a readout of the conversation issued Monday.

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