Trump and Trudeau agree on a revised NAFTA deal

Trump and Trudeau agree on a revised NAFTA deal

The agreement came just hours before a deadline set by the Trump administration, will pave the way for a vote in Congress to approve the deal after more than a year of negotiations among the US, Canada, and Mexico over the trilateral agreement.

Trump announced that the U.S. would impose a 25% tariff on imports of Canadian steel and a 10% tariff on aluminum in June, which in turn prompted Canada to respond with retaliatory tariffs on a slew of U.S. products in July.

Earlier Canada's Ambassador to the U.S., David McNaughton, had said in Ottowa, "Lots of progress, but we're not there yet".

"Everybody's negotiating in good faith right now as we speak".

Canadian Prime Minister Justin Trudeau said that it was a "good day for Canada" when leaving his office on Sunday.

Despite the fact it's one of Trump's favourite talking points, the politically sensitive question of greater US access to Canada's dairy market is also no longer a hurdle, say sources familiar with the talks.

It took more than a year of negotiations and a final flurry of six weeks of intense negotiations between U.S. and Canadian representatives to reach the United States-Mexico-Canada Agreement, which will govern nearly $1 trillion of trade between the nations. Companies and business groups, including the US Chamber of Commerce, have repeatedly called on Trump to ensure Canada remains part of the pact, which has become critical for industries across North America, including automakers, agriculture, and manufacturers.

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

Canada has made some concessions, including removing help for its dairy farmers, in return for protections for its vehicle industry.

The three countries reached an agreement to replace the 24-year-old North American Free Trade Agreement, according to a joint statement from U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland on Sunday.

USA business groups oppose turning NAFTA into a bilateral deal because the three nations' economies have become closely intertwined since the original pact came into force in 1994.

Trump has approved the deal with Canada, a source familiar with the decision said.

Canada will open its dairy market further to U.S. producers, and Washington left unchanged the dispute settlement provisions which Ottawa demanded.

The flags of Canada, Mexico and the United States are seen on a lectern before a joint news conference on the closing of the seventh round of NAFTA talks in Mexico City, Mexico, March 5, 2018. "So it's either going to be the text goes in with Mexico and the US, or the text goes in with all three countries".

"We agreed to that", Lopez Obrador told reporters in Mexico City.

More than two-thirds of Canadian exports go to the United States, equivalent to 20 percent of its Gross Domestic Product, while Canada is the largest export market for the United States.

At an investment conference hosted by TD Asset Management in mid-September, Mr. McKenna argued that Canada must stand its ground on the Chapter 19 dispute resolution mechanism.

This news was provided by sources within the Canadian and USA governments.

Even Trudeau has been pulled into the fray: on what's usually a personal day for the prime minister, his itinerary said he'd be spending Sunday in "private meetings" and he was seen entering his office early Sunday evening. "It's a great win for the president and a validation of his strategy in the area of global trade", said one senior US official. Then it's likely to be taken up in Congress next year. That is more than the 2 million units now exported.

Related Articles

  • Chelsea 1-1 Liverpool: 3 things we learned

    Chelsea 1-1 Liverpool: 3 things we learned

    Jurgen Klopp took no chances by making sure Mohamed Salah celebrated Liverpool's equaliser against Chelsea at Stamford Bridge. Head coach Sarri reiterated after the 1-1 draw that he believes Hazard can score 40 goals this season.
    Adultery no longer a criminal offence in India

    Adultery no longer a criminal offence in India

    The court said it deprived women of dignity and individual choice and "gives license to the husband to use women as a chattel". Khanwilkar, observed that Section 497 ( adultery ) of the Code "commands" married couples to remain loyal to each other.
    Trump's SCOTUS nominee testifies before the Senate Judiciary Comittee

    Trump's SCOTUS nominee testifies before the Senate Judiciary Comittee

    Mitchell, a sex crimes prosecutor in Phoenix, was described by defense lawyer Adam Feldman as a "zealous advocate for the truth". Kavanaugh will deny all of the allegations but will tell the committee that he was "not perfect" in high school.
  • Chelsea end Liverpool's flawless  start as United suffer Hammer blow

    Chelsea end Liverpool's flawless start as United suffer Hammer blow

    Liverpool's flawless start to the Premier League season came to an end after they drew 1-1 with Chelsea at Stamford Bridge. I think we were well prepared, but the game will help massively".
    ABC chair resigns over Australian political interference claims

    ABC chair resigns over Australian political interference claims

    Justin Milne was not present at an emergency meeting of the board this morning, which resulted in a request for him to step aside. He said he never used the term "babes", but did sometimes call people he liked "chicks" in order to relax them.
    Russian spy poisoning suspect was honoured by Putin

    Russian spy poisoning suspect was honoured by Putin

    In its report about Colonel Anatoliy Chepiga, Bellingcat outlines how its investigation arrived at its conclusion. The man who entered Britain in March as Ruslan Boshirov has been identified as Col Anatoliy Chepiga.
  • Final round of Tour Championship receives highest ratings on record

    Final round of Tour Championship receives highest ratings on record

    Bjørn has welcomed Woods's return to the top - but admits no one in the European side will be running scared of him. Tiger Woods , fresh from his first PGA Tour victory in five years, is in full swing ahead of the Ryder Cup .
    Rouhani slams Trump as an

    Rouhani slams Trump as an "authoritarian" with "Nazi disposition"

    Wednesday's meeting highlighted a rift between the United States and its European allies over the Iran nuclear deal. And we ask all nations to support Iran's people as they struggle to reclaim their religious and righteous destiny.
    Plane overshoots runway in Micronesia and lands in ocean

    Plane overshoots runway in Micronesia and lands in ocean

    Witness Bill Davis told Yahoo7 News that all the passengers were evacuated quickly, a few of whom had minor injuries. Flight PX073 was operating from Pohnpei in Micronesia and was due to continue to Port Moresby.
  • Trump says FBI has 'free rein' in Kavanaugh investigation

    Trump says FBI has 'free rein' in Kavanaugh investigation

    Flake, a key Republican swing vote, was the center of attention on Friday as he conferred with longtime friend and Democratic Sen. Kavanugh has denied the accusations from Ramirez and Swetnik and has said emphatically that he never abused or assaulted anyone.
    Sushma blames Pakistan for sabotaging peace talks

    Sushma blames Pakistan for sabotaging peace talks

    Guterres also lauded Islamabad's role in world peace, saying that it is an important member of the United Nations body. Schools all over India had observed two minutes of silence in their memory", she said.
    Rose captures FedEx Cup with fourth-place tie

    Rose captures FedEx Cup with fourth-place tie

    Woods won the Tour Championship, the last event of the FedEx Cup playoffs, for his first victory since 2013. McIlroy said it was always hard to win on the PGA Tour, especially when trying to come from behind.