Canada officials aim to reach NAFTA deal next week

Canada officials aim to reach NAFTA deal next week

Canada officials aim to reach NAFTA deal next week

U.S. President Donald Trump admitted making off-the-record comments about NAFTA negotiations after The Toronto Star reported he told Bloomberg News the U.S. would not make any compromises in a deal.

Intense negotiations between Canada and the USA broke down Friday after a newspaper reported Mr. Trump's off-the-record comment that he is not compromising with Prime Minister Justin Trudeau's government, saying it the deal would be "totally on our terms".

"Canada is a country that is good at finding win-win compromises".

The minister is expected to announce that her intense days-long talks with her American counterpart are progressing well, but that they will take a break for the long weekend and resume next week. "But we have also been very clear, we will only sign a deal if it is a good deal for Canada". "The USTR team will meet with Minister Freeland and her colleagues Wednesday of next week".

In late afternoon trading on Friday in NY, the dollar index was up 0.4 per cent at 95.106.

He wouldn't comment on the obstacles that remain and reiterated he won't negotiate in public.

In a statement, Ontario Premier Doug Ford said the call was "productive" and that he hoped a deal would be reached soon. "It is clear the US economy is much bigger than ours, but trying to embarrass the Canadian team, trying to insult Canadians, is not going to get him anywhere".

But hard discussions about dairy and dispute settlement remain.

Trump also wants a NAFTA deal that eliminates dairy tariffs of up to 300 percent that he argues are hurting USA farmers, an important political base for Republicans.

Canada has opened its dairy market in its two previous major trade agreements, with the European Union and in a re-booted Trans-Pacific Partnership. ABC News reports Trump confirmed the leak in both a tweet and while at an event Friday in Charlotte, North Carolina, saying: "I love Canada but they have taken advantage of our country for many years".

Foreign leaders "keep underestimating Trump on trade", said Dan DiMicco, a former steel executive and trade adviser to Trump who was with the president Friday in Charlotte.

Former Mexican president Vicente Fox said Trudeau's messaging left the Mexican side unsure how much it could count on Canada. As well, American media is reporting that the White House would face stiff resistance from pro-NAFTA congressional Republicans if Trump tried to shrink the trade pact to a U.S. -Mexico deal. "We are certainly not prepared to receive those kinds of blows".

Meanwhile, an impasse continues on another core issue: Chapter 19 anti-dumping panels.

"Canada's going to make a deal at some point". She's a politician. Though bright and well educated, Freeland's life experience was as a journalist before becoming Trudeau's Minister of Foreign Affairs. "I can't kill these people", he said of Trudeau's government. And then, 60 days after that, we'll have a signing.

After sounding optimistic Thursday, Freeland appeared gloomier on Friday.

"There are things that we don't control, particularly the political relationship between Canada and the USA, and we definitely don't want to expose Mexico to the uncertainty of not having a deal". He also reportedly said that a deal with Canada would be "totally on our terms".

"They've done it behind his back while he wasn't even at the table", Scheer told reporters in Winnipeg. The deal also proposes requiring a significant portion of automobile parts - 75 percent - be made in the USA and Mexico. "So, that's very concerning".

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