Canada, US secure revised NAFTA deal in last minute effort

Canada, US secure revised NAFTA deal in last minute effort

If the new deal were simply branded as NAFTA 2, it would appear the president had failed on his promise to repeal what he called the worst trade agreement in history, said Rose, who studies political communication and propaganda. However, he believes the provision is meant as more a reasonable consultation within Canada's most-important trade alliance, than an attempt to block any Canada-China trade deals.

Canadian Prime Minister Justin Trudeau's Liberal government, seeking to diversify Canada's export base, held exploratory talks with China on trade in 2016, but a launch of formal negotiations has failed to materialize.

Earlier in the day, MacNaughton indicated to reporters waiting outside the PM's office that a deal was around the corner. No fan of NAFTA, Gary Jones, president of the United Auto Workers, said in a statement his union isn't ready to endorse the deal just yet.

Access to Canada's dairy and wine markets: Canada has agreed to get rid of its "Class 7" pricing system, which was introduced a year ago to make it cheaper to buy certain powdered ingredients-used to make cheese and other dairy products-domestically.

"The rationale agreed to under USMCA aligns with this approach, and in no way infringes on Canada's sovereign right to develop commercial relations with any country of its choosing".

The new deal gives USA dairy producers more access to Canada's market.

The deal comes despite Donald Trump's multiple trade wars, which have seen the United States president impose taxes on imports from both Canada and Mexico, bringing retaliation in kind.

"This can be presented as a big win for Trump without being too damaging for [Canadian President Justin] Trudeau given the relatively limited scope of these new measures", Oxford Economics' Gregory Daco wrote in a note. The deal is subject to approval by the three parties, and in the case of the US, a Congressional vote.

The U.S. and Mexico hammered out their portions of the trade agreement in late August before the U.S. turned to Canada.

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Tiberghien, who is also a distinguished fellow at the Asia Pacific Foundation of Canada, said the trade off struck by Canada will come with a high long-term price.

Observers also suggested that the USMCA clause may be created to send a message to Beijing that the United States' North American partners support its push to get China to clean up its practices and open its markets. "Now I can say it", Trump said Monday to Tennessee television station WJHL.

"Certainly disappointed because they didn't agree on a solution on the 232 sanctions regarding aluminum and steel", said Jean Simard, CEO of the Aluminium Association of Canada. Furthermore, Canada will allow USA farmers more access to their wine and dairy markets.

The U.S. this summer threatened auto tariffs of as much as 25 percent.

"Anything you submit to Congress is trouble no matter what", Trump said, predicting that Democrats would say, "Trump likes it so we're not going to approve it". "And almost one million more than Canada has exported". "He looks forward to reviewing the agreement and ensuring it meets adequate labor and environmental standards while putting Kansas and Americans first".

The new trade deal, which representatives from the three countries have agreed to in principle, also contains provisions calling for greater enforcement to prevent by-catch - the inadvertent capture of non-targeted species in nets and traps.

What's the deal with NAFTA and what's going on?

"The general course of the deal started to be more positive, the USTR became concerned there may be some procedural challenges to his deal with Mexico from the Hill, and I think the White House wanted to ramp up the pressure and started repeating its threats about auto tariffs".

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