US, Canada Trade Sharper Barbs Before Resuming Nafta Talks

US, Canada Trade Sharper Barbs Before Resuming Nafta Talks
Scalise tells Canada: Make a deal on trade or be left behind | TheHill
Canada NAFTA Advisory Council member Rona Ambrose, Future File Legacy Creator Carol Roth and Real Clear Politics columnist Anneke Green discuss Canadian Foreign Minister Chrystia Freelands comments about the progress being made on trade between the U.S. and Canada.

As reported by Bloomberg, the US and Canada continue to exchange sharp words over trade as NAFTA talks resume.

According to Bloomberg, Representative Steve Scalise of Louisiana warned that patience for Canada was "wearing thin", while Canadian Prime Minister Justin Trudeau continues to reiterate that he'd rather have no deal at all than a deal that is detrimental to Canada.

The problem with the bold statement that ´No deal is better than a bad deal´ is that a bad deal is very much in the eye of the beholder,” said John Manley, a former Liberal finance minister who heads the Business Council of Canada, which groups many chief executives.

Thursday is being considered the deadline to submit any official paperwork leading to and agreement, before yet another self-imposed 'deadline' sails by with no agreement in place. A tentative deal was initially reached with Mexico in August, though despite President Donald Trump threatening to go ahead and redraft NAFTA with just Mexico, the US Senate has stopped short of backing up Trump's statements, especially after Mexico has warned that it has no interest in a NAFTA deal without Canada.

Trade talks with Canada to resume

Bloomberg, quoting Jennifer Hillman: “It is growing increasingly unlikely that you can get text to the Congress by Sept. 30,” said Jennifer Hillman, a professor of law at Georgetown University and former general counsel to the Office of the U.S. Trade Representative. It’s even more unlikely to proceed quickly with only Mexico, she said. “Canada does still have some leverage.”

The problem with the bold statement that ´No deal is better than a bad deal´ is that a bad deal is very much in the eye of the beholder,” said John Manley, a former Liberal finance minister who heads the Business Council of Canada, which groups many chief executives.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

“It would be unacceptable to sideline Canada, our largest export market in the world,” the heads of the US Chamber of Commerce, the Business Roundtable and the National Association of Manufacturers said in a letter to Lighthizer.


Posted in World