Canada Seeks Return To NAFTA Talks As US And Mexico Draw Close To Deal

Mexico's economy minister on Thursday said his team was working hard to strike a deal with the United States on new rules for the auto industry, which could pave the way for Canada to rejoin talks to revamp the North American Free Trade Agreement.

The U.S.-Mexico NAFTA talks resumed three weeks ago, without Canada at the table, after negotiations involving all three members of one of the world's largest trade blocs stalled in June.

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MDarringer - 8/10/2018 10:47:54 AM

-1 Boost

I guess Trudeau's temper tantrum went nowhere with Canada finally realizing that the USA (1) doesn't need them and (2) if the USA cuts a sweetheart deal with Mexico, Canada is screwed. Mexico simply is a more important trade partner is so many ways.

rockreid - 8/10/2018 11:29:42 AM

+1 Boost

More likely is that any new “deal” rearranges the deck chairs to benefit traditionally Republican supporting industries over any real deals that actually benefit the US as a whole. That’s all this trade tarriff nonsense is about anyway- funneling money into US right wing coffers at the expense of the average American- watch for higher prices on most products soon new deal or not.

CANADIANCOMMENTS - 8/10/2018 1:00:17 PM

+3 Boost

Canada and Mexico have close to the same amount of trade with the USA. However, the trade deficit that the USA has with Mexico ($71B) is much larger than the trade deficit with Canada ($18b). So, in theory, there is more to fix on that side of the fence. But most of the trade in question is just auto parts and cars moving from one plant to dealerships in each of the 3 nations as well as overseas. It will be worked out with some tweaks around the edges to deal with services and IP. A sunset clause is very unlikely to happen.

TheSteve - 8/10/2018 3:44:52 PM

+2 Boost

The US enjoys a trade SURPLUS with with Canada when you count products and services, which is how everyone (except Daffy Don and his Devotees) calculate trade.

MDarringer - 8/10/2018 3:54:17 PM

-1 Boost

Yes when you use bullshit and flim flam as fact, Canada is the helpless victim.

CANADIANCOMMENTS - 8/10/2018 4:06:17 PM

+2 Boost

@TheSteve -That is correct. Trade in services and the value of software were not included in the original contract. They will both be included in this round. And while I don't support a sunset clause, I would think with the rate of technological change, a meeting every 3 years to include new items in the agreement is not a bad thing to do.