Trudeau in Mexico for talks after tense United States trip

Marie Harrington
October 13, 2017

The trade negotiations this week in Washington have gotten off to a rocky start, with the U.S. Chamber of Commerce warning that the Trump administration might be sabotaging the talks with unrealistic proposals.

Victor Herrera, who's spent 35 years covering Latin American financial markets, warns that NAFTA's demise would have major effects.

U.S. President Donald Trump has repeatedly threatened to exit the pact if he can't get more favorable terms.

"While NAFTA modernization is important, we urge caution in considering the jobs that might be lost and the prices American consumers may incur as the result of changes to key aspects of the agreement", said AIADA President Cody Lusk in a statement. The US and Canadian leaders also discussed the Bombardier-Boeing trade dispute.

"Growth could be 1 percent higher if the country had better accountability and more transparency". "The problem is that we are running against a clock", he says.

Trudeau was heading to Mexico City after leaving Washington for talks with President Enrique Pena Nieto.

Britain is now negotiating the terms of its divorce from the European Union though Prime Minister Theresa May is pushing to move onto discussions about a major free trade deal with the world's biggest trading bloc.

Trump, who has long criticised the agreement and almost withdrew from the pact earlier this year before instead pursuing renegotiation, said, "It's possible we won't be able to make a deal and it's possible that we will". "Withdrawing from the agreement also risks a prolonged legal fight over whether the president can exit from the agreement without congressional consent".

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"So saying, we are ready for anything and we will continue to work diligently to protect Canadian interests, to stand up for jobs, and look for opportunities for Canadian business and citizens of all of our friends and neighbour countries to do well".

"Even worse, withdrawal from NAFTA would put at stake millions of American jobs in every sector of the US economy, the competitiveness of USA -produced goods and services, and our country's standing as a global economic leader", Bolten said.

"U.S. negotiators have made conditions so tough that Mexico and Canada could reject them, which would be the ideal excuse for the US government to announce its departure from NAFTA", Coutino wrote.

"We will see if we can make the kind of changes we need", Trump said. Those "could doom the entire deal", Thomas Donohue, the Chamber's CEO said October 11.

The figure is dwarfed by their trade with the U.S.: more than $480 billion previous year for Mexico and more than $540 billion for Canada.

The U.S. Chamber of Commerce has warned against so-called "poison pill" proposals by the U.S., including the sunset clause. "But it is our responsibility as a government to prepare for every eventuality, and that is what we are doing".

"If the required content to hit the threshold for a NAFTA vehicle is too high, people may say, 'Look, it's just too hard, it's too high, so we'll just ship the vehicles in, '" Magna International Inc.

Other reports by TheSundaySentinel

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