Dems take cautious approach to Trump trade deal

Dems take cautious approach to Trump trade deal

Dems take cautious approach to Trump trade deal

Canada and the U.S. have agreed a basis for the revised North American Free Trade Agreement (NAFTA), reaching a compromise in late-night talks on Sunday after months of stand-off.

The agreement represents the fulfillment of a signature campaign promise and the brokering of an agreement that just days ago seemed likely to unravel, threatening the decades-old North American free trade framework.

Outgoing President Enrique Pena Nieto said via Twitter on Monday the deal negotiated over the last 13 months "achieves what we proposed at the beginning: a win-win-win agreement".

Freeland told reporters Monday that as she had predicted there had been "dramatic moments" during the talks but it had been important not to get overtaken by them and to remain focused.

Prime Minister Justin Trudeau said at a news conference on Monday that talks would continue on lifting the metal tariffs.

Trudeau has promised repeatedly to keep the country's supply management system intact, despite pressure from Trump. With a satisfied smile, the president said the new name had a "good ring to it", repeating U-S-M-C-A several times.

The U.S. and Canada are under pressure to reach a deal by the end of the day Sunday, when the U.S. must make public the full text of the agreement with Mexico.

But while you could save a few bucks and have more flexibility, there's concern from some small businesses and retailers about what this could mean for them. Kushner played a similar role with Mexico - in that case, his close relationship was with Luis Videgeray, the Mexican foreign secretary, helped propel those talks to fruition.

"Once approved by Congress, this new deal will be the most modern, up to date, and balanced trade agreement in the history of our country, with the most advanced protections for workers ever developed", he said.

Jean Simard, who speaks for three large aluminum producers in Canada - Alcoa Canada Ltd., Rio Tinto Alcan Inc. and Aluminerie Alouette Inc. - said industry representatives will be working alongside their USA counterparts to demand exemptions from the tariffs. "That wasn't part of this", Mr. Trump said.

And he cheered the fact it will give American farmers and dairy producers greater access to markets in Canada and Mexico, protect auto manufacturing jobs and encourage innovation on US soil.

The US and Mexico were pushing to get the new deal through their legislatures before Mexican President-elect Andres Manuel Lopez Obrador takes office on December 1.

The new United States-Mexico-Canada Agreement (USMCA) is aimed at bringing more jobs into the United States, with Canada and Mexico accepting more restrictive commerce with the United States, their main export partner.

"I don't think it did. The U.S. can damage Canada without hurting themselves very badly".

"Moving forward on eliminating the tariffs on steel and aluminum remains a priority for us, for Mexico, and is something the Americans have indicated they are more than willing to work on", Trudeau told a news conference.

Canada, the United States' No 2 trading partner, was left out when the USA and Mexico reached an agreement last month to revamp NAFTA.

While President Donald Trump hails a revised NAFTA as the "most advanced trade deal in the world", some analysts are wondering what all the hype is about.

USA drug companies will also now be able to sell products in Canada for 10 years before facing competition from generics, up from eight years.

But Canada has been obliged to make concessions, in particular allowing United States dairy farmers access to about 3.5 percent of its $16 billion (13.8€ billion) domestic market.

The agreement was forged just before a midnight deadline imposed by the include Canada in a deal reached with Mexico late in the summer.

Related news