Thursday, 18 October, 2018

US, Canada hold last-minute NAFTA talks as deadline looms

Chinese President Xi Jinping applauds ahead of delivering a speech at the Boao Forum for Asia Annual Conference in Boao China Trump and Trudeau agree on a revised NAFTA deal
Elsie Buchanan | 04 October, 2018, 07:45

The USMCA deal has a lot in common with its predecessor, NAFTA, but includes a few key changes.

"Today, Canada and the United States reached an agreement, alongside Mexico, on a new, modernized trade agreement for the 21st Century: the United States-Mexico-Canada Agreement", US Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland said in a joint statement. The agreement also exempts tariffs on 2.6 million automobiles.

The US and Canada were still able to agree on an updated version of the North American Free Trade Agreement, a trilateral trade deal among the US, Canada, and Mexico, on Sunday.

"It basically, kind of blocked off the USA and other countries from exporting products like ultra-filtered milk or like, protein powders from milk into Canada, and kind of protected the Canadian ultra-filtered milk market", Williams said.

The NAFTA dispute-resolution process will also be kept in the new deal.

But not everyone is happy!

"I'm not happy, I'm ecstatic", Marshall said of the deal.

Let us know YOUR thoughts by tweeting and Facebooking us!

'I Know You're Not Thinking, You Never Do'
Regular readers may recall a story from January, during a White House discussion on immigration policy in January, when Sen. Trump brushed it off and told her to ask her question. "You know what, you've really had enough.


The deal reportedly grants U.S. farmers access to the heavily protected dairy market.

This was with the goal of keeping the production of vehicle parts in the U.S. and help bring back some that had moved overseas.

Word of the deal came as Canadian Prime Minister Justin Trudeau convened a 10 p.m.

For Trump, the USMCA is only the start of what he says is a global pushback against countries taking advantage of the United States economy.

The deal reached Sunday gives farmers greater access to the Canadian dairy market, a big win for the Trump administration. It limited imports of those dairy products from the USA and drew criticism from President Donald Trump, who claimed it was "unfair".

As reported by Bloomberg, unnamed sources close to the talks reveal that the United States is "confident" that a deal will be reached between Canada, Mexico, and the USA before a US-imposed deadline of midnight Sunday.

Mr. Kudlow, director of the National Economic Council, said at a securities industry conference in Washington that no formal plans have been made to resume talks, but said United States officials are ready to negotiate as long as the conversations are serious. Then it's likely to be taken up in Congress next year. "The government has said repeatedly that it values a strong and vibrant dairy sector-they have once again put that in jeopardy by giving away more concessions".

While the USA used the possibility of a bilateral agreement with Mexico to put pressure on Canada, Mexico pushed for a trilateral agreement until the end.

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