Trump Hails 'Terrific' Trade Deal with Canada, Mexico

07 October, 2018, 02:15 | Author: Mary Valdez
  • Canada and US agree last-minute trade deal

"We're thinking about just taxing cars coming in from Canada". "We have negotiated this new agreement based on the principle of fairness and reciprocity. We have survived the 14 roller coaster months of a very unpredictable president".

"These measures will support many - hundreds of thousands - American jobs", Trump said in remarks at the White House.

It wasn't Freeland's hard-driving negotiating style that was under Trump's skin.

"That's really a lot better than the alternative", he said. The import taxes of 10-per-cent on aluminium and 25-per-cent on steel were first levied by Mr. Trump in June, and mirrored by Canada and other countries. When a reporter suggested he seemed confident of approval after his announcement, he said he was "not at all confident" - but not because of the deal's merits or defects. We'll see what happens.

"What Chapter 19 does is, it gives us laws and rules that govern our trading relationship with the United States and an independent binational panel that decides who's right and who's wrong", Freeland said.

After Trump's news conference, "the only difference was that instead of seeing the glass half-full, I was seeing it half-empty", MacNaughton chuckled in an interview.

Unifor, Canada's biggest private sector union, said the deal was likely positive for auto workers, as it requires a much higher percentage of parts to be made in North America, with a significant proportion produced in areas paying at least US$16 per hour.

Canadian sources close to the talks say MacNaughton's easygoing style and political acumen - honed as co-chair of multiple provincial and federal Liberal election campaigns, and former Ontario premier Dalton McGuinty's principal secretary - proved invaluable.

The tariffs also affect Canada which, along with Mexico and the United States, is slated to sign an updated version of the North American Free Trade Agreement (NAFTA), now called the United States-Mexico-Canada Agreement (USMCA), by the end of November.

"The deadline is midnight tonight to get the text into Congress to make sure this goes forward".

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

But the ensuing talks to incorporate Canada stumbled.

He said the deal has a "good ring to it", repeating U-S-M-C-A several times.

"As someone who voted against NAFTA and opposed it for many years, I knew it needed fixing". "The government has said repeatedly that it values a strong and vibrant dairy sector - they have once again put that in jeopardy by giving away more concessions", he added.

Forces within the USTR office - including Lighthizer himself - were determined to wear Canada down on the issue of the dispute resolution mechanisms embedded in the old NAFTA.

Trudeau said the USMCA is successful in maintaining fairness and balance between Canada and the USA, a trading partner 10 times its size.

The deal ends a major source of trade irritation as the Trump administration pivots to a much bigger fight with China, where United States tariffs now are active on US$250 billion worth of Chinese goods and threatened on US$267 billion more. "It seems like it's only been lip service from both of them".

President Trump and Canadian Prime Minister Justin Trudeau shake hands during a meeting in the Oval Office in February.

Keeping that provision, previously known as chapter 19 under NAFTA, was one of Canada's lines in the sand, though the US initially wanted to eliminate it.

"This seems created to attract auto manufacturing back to the USA and Canada and away from Asia and Mexico", said Cuz Potter, an associate professor at the Korea University Graduate School of International Studies in Seoul.



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