Tuesday, 22 May, 2018

Trump, Trudeau meet at the White House amid new NAFTA talks

He sounds like he really means He sounds like he really means
Sammy Stanley | 13 October, 2017, 00:11

The U.S. auto parts industry could lose up to 50,000 jobs if the North American Free Trade Agreement is terminated and companies must pay higher tariffs to ship products to Mexico and Canada, according to a new study set for release on Thursday.

"With an agreement, in 10 years I see a strong region that can face Asia or China, without an agreement I see a weaker region in the medium and long term".

President Donald Trump's trade negotiators entered the latest round of NAFTA talks Wednesday under growing pressure inside their own country to step back from a confrontational stance that's left the US isolated at the negotiating table.

USA proposals include limiting the number of federal government contracts that Mexican and Canadian companies can win, a provision that would cause the deal to automatically expire in five years unless all three countries vote to renew, and changes in how much of a product needs to be made in North America to come under Nafta protections. "Two countries that are interwoven in our economies and our cultures and our peoples", Trudeau said. Trump left open the possibility that the United States would seek to establish bilateral deals with Canada and Mexico if talks were to break down.

While speaking with members of the press, Trump said that "We may or may not be able to make that deal" when asked about the possibility of coming to an agreement with both Mexico and Canada.

The top US business group pledged to fight to preserve the pact, a congressional committee said it was committed to successful talks, and Mexico signaled it can live without the accord.

Advertisment Prime Minister Justin Trudeau arrives for meetings in Mexico today amid growing signs that the North American Free Trade Agreement (NAFTA) is in serious jeopardy.

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The U.S. Chamber of Commerce has warned against so-called "poison pill" proposals by the U.S., including the sunset clause.

NAFTA negotiators face tough new USA demands to increase regional content for autos to 85 percent from 62.5 percent, with 50 percent from the United States, according to people briefed on the plan.

The U.S. side sees strengthening the rules of origin for the auto industry as a way to bring back automotive production and jobs from Asia.

Mexico and Canada do some $20 billion a year in bilateral trade.

"There's a path to be optimistic here and, you know, maybe he'll come around", Morneau said, an apparent reference to Trump.

In recent weeks, the Trump administration has sparred with American businesses that support NAFTA and has pushed for significant changes that negotiators from Mexico and Canada say are nonstarters.

"The comedy show is unfolding in Washington, there's no question about it", he said. -Canada deal that would leave Mexico out entirely.

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