Trudeau affirms China trade aspirations after some say USMCA impedes any deal
04 October, 2018, 00:03 | Author: Eric Barnett
U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland said in a joint statement that the new deal will "strengthen the middle class and create good, well-paying jobs and new opportunities for the almost half a billion people who call North America home".
Prime Minister Justin Trudeau said in a press conference that the auto sector was a key priority in negotiations.
Canada and the USA have agreed a basis for the revised North American Free Trade Agreement (NAFTA), reaching a compromise in late-night talks on Sunday after months of stand-off.
The agreement says those factories must pay a minimum of US$16 (S$22) an hour in average salaries for production workers. As recently as last week, the Trump Administration signaled that it might leave Canada out of a bilateral trade deal with Mexico that would replace NAFTA.
Foreign Minister Chrystia Freeland said talks on the new pact and the question of tariffs were on separate tracks but added "we have a little bit of wind in our sails and we are very much going to continue to work on this issue".
He said he hopes the aluminum and steel tariffs can be resolved shortly, but that the manufacturing industry didn't lose anything in the new deal.
"Paul is dedicated to trade deals that are in the best interest of American workers", his spokeswoman Kelsi Browning said in an email. China has no free-trade deal with Canada, Mexico, Japan, Europe and the US.
"Part of Canada's concessions in this deal was to include language that holds Canada hostage to the Americans if we decide to trade with another country", Ramsey said. "I think it will be more of a subtle shift". "We never believed that it would be easy, and it wasn't, but today is a good day for Canada".
"On Tuesday, all the rumblings were that Trump and Trudeau were going to meet at the General Assembly - in fact, senior-level US officials were telling stakeholders that at private dinners, luncheons, receptions in Canada and the USA", the source said.
The president became aware of Freeland's attendance at the "Tyrant" event as a plot to prevent Trump from meeting the prime minister at the United Nations and agreeing prematurely to a deal, a source said.
Polls show that Trudeau is still personally popular in Quebec and that the Liberals easily would win a federal election if one were held now.
"Somehow it got back to the president", said the source, who spoke on condition of anonymity in order to speak freely about the details.
[F] or the most part, despite Trump's assertion that "it's not NAFTA redone, it's a brand-new deal", the president mostly kept NAFTA intact. OH has a strong manufacturing and farming base that some believe has suffered due to the NAFTA deal approved in the 1990s.
Canada's decision to sign a new North American trade deal with the clause that limits the chances of a free trade deal with China, comes after Canada tried - and failed - to start free trade talks with the world's second largest economy previous year.
United Steelworkers Canadian director Ken Neumann was more direct, saying Canada "sold out" steel and aluminum workers by not getting the 25 per cent steel tariffs and 10 per cent aluminum tariffs removed.
The Trump deals nudge U.S. trade policy in a new, antiglobalization direction.
Gordon said there could be a slight increase in market access to Canada for US dairy products, and the removal of that nation's Class 7 system pricing could lessen impact on the USA and world markets. "He looks forward to reviewing the agreement and ensuring it meets adequate labor and environmental standards while putting Kansas and Americans first".
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Other countries that produce oil have increased output in recent months to meet growing demand, but supply still remains tight. WTI is up by about 17 percent since mid-August. "Worries about trade relations affecting economic growth have fallen away".
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