Friday, 17 November, 2017

Mexico will only stay in NAFTA based on national interest, says FM

Bilateral trade deal with Canada possible Trump Trudeau says approach to Trump will be to find common ground on trade
Sammy Stanley | 12 October, 2017, 02:24

Stephen Harper says he believes Donald Trump is genuinely willing to pull the plug on the North American Free Trade Agreement.

"We'll see if we can do the kind of changes that we need", Trump said.

In his meeting with Trump, Trudeau was expected to remind the president that Canada is the United States' biggest export customer, with largely balanced two-way goods and services trade, and is not the cause of U.S. manufacturing jobs lost under NAFTA, Canadian officials said.

We're negotiating a NAFTA deal. "In the meantime, we'll make a deal with one, but I think we have a chance to do something very creative that's good for Canada, Mexico and the United States".

Mexico's cattle industry, which exports almost US$9 billion worth of product a year to the United States, took a similar stand Tuesday.

Asked by a reporter if he would make a trade pact with Canada if he can not reach agreement with Mexico in the NAFTA negotiations, Trump said: "Oh sure, absolutely". He said tariffs would increase by more - around 7 percent - for US businesses exporting to Mexico. But repeating the "ready for anything" sentiment multiple times suggests a conscious decision to acknowledge that the outcome of the talks may not go Canada's way.

Alibaba plans $15 billion investment for tech R&D at DAMO Academy
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"An abrupt exit from NAFTA would be more of a loss for US exporters than for Mexican ones", he said.

"We have to be prepared to say no, and if necessary to get up from the table and if necessary leave the treaty", Videgaray said, adding, "It would not be the end of the world".

He joined the committee to warm applause and expressions of optimism about the deal from both the committee's Republican chair and the ranking Democrat member.

"It's possible we won't be able to make a deal, and it's possible that we will", he said.

From there, discussions are scheduled to move onto developing remedies for trade disputes, as well as the contentious issue of agriculture.

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