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Canada, U.S. Optimistic About a NAFTA Trade Deal
The U.S. and Canada are voicing optimism that the two countries can complete a tentative three-way trade deal with Mexico on Friday that would replace the North American Free Trade Agreement.
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The U.S. and Canada are voicing optimism that the two countries can complete a tentative three-way trade deal with Mexico on Friday that would replace the North American Free Trade Agreement.
The U.S. and Mexico came to a preliminary agreement on Monday after several weeks of intense bilateral negotiations. President Donald Trump had threatened to move ahead with that deal if Canada balked—and perhaps impose a 25% import tax on Canadian-made cars.
Relations between Trump and Canadian Prime Minister Justin Trudeau turned frosty in June amid escalating rhetoric on both sides. But Trump tells reporters he had a pleasant discussion with Canadian Prime Minister Justin Trudeau on Wednesday about reaching an agreement by the end of the week. Trudeau says only that a deal by Friday is “a possibility.”
Reports say the most contentious issues involving the two countries are Canada’s effort to preserve NAFTA’s trade dispute resolution system, and a U.S. demand for greater access to Canada’s dairy market.
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