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USA and Canada Trade Talks to Resume Next Week

USA and Canada Trade Talks to Resume Next Week

The president plans to sign this new agreement, with or without Canada, in 90 days.

Pressure on Canada mounted after U.S. President Donald Trump earlier this week announced he'd reached a proposed trade deal with Mexico, threatening to cut Canada out of the 24-year-old trilateral pact that underpins more than $1 trillion in annual trade.

The Toronto Star first reported on the remarks citing remarks it had obtained.

"At least Canada knows how I feel".

Trump: His off-record comments to Bloomberg were leaked by the Toronto Star on Friday. According to the Star, Mr. Trump told Bloomberg News reporters that he could not say this on the record because "it's going to be so insulting they're not going to be able to make a deal".

Lighthizer's statement Friday said Trump intends to sign a new trade deal with Mexico, whether or not Canada is part of it.

Lawmakers, including many in Trump's own party, say a deal must include Canada to be approved.

The U.S. demanded those tougher standards to boost workers who've complained that cheap foreign labor is siphoning off jobs and lowering wages.

Mr. Trump tweeted on Friday afternoon that the report of his off-the-record comments was "more dishonest reporting". The Canadian government would not reveal what transpired.

Freeland emerged from the morning's talks just minutes after news of Trump's remarks rippled through the media corps gathered outside the offices of the USA trade representative, where the negotiations have been taking place all week. The trade representative added that talks with Canada were "constructive", and will continue next week in a bid toward securing an agreement with Canada within that 90-day term.

"With good will and flexibility on all sides, I know we can get there", she said.

But the hit predicted to the wallets of Canadian consumers is not just a product of the NAFTA negotiations, said Ciuriak, who once worked as deputy chief economist at Canada's Department of Foreign Affairs and International Trade.

But with Donald Trump driving the agenda for the American side of the bargaining process, some experts warn that the uncertainty generated by the negotiation of a new North American Free Trade Agreement will ultimately hurt consumers. Except for some minor objections, mainly over Canadian dairy policy, Trump spoke of "tweaking" the Canadian relationship. Global equities were also down following the hawkish turn in Mr Trump's comments on trade.

Lighthizer has refused to budge despite repeated efforts by Freeland to offer some dairy concessions to maintain the Chapter 19 independent trade dispute resolution mechanism in NAFTA, The Globe and Mail reported on Friday.

Under nearly any normal circumstance, the negotiation of a trade pact between countries should result in benefits for consumers, say experts who are closely watching the North American free trade talks unfold in Washington.

One sticking point for Canada is the US effort to dump the Chapter 19 dispute-resolution mechanism that hinders the United States from pursuing anti-dumping and anti-subsidy cases. Freeland vented her frustration at what she characterized as the Americans' "winner-takes-all mindset", while Lighthizer said he was "surprised and disappointed by resistance to change from our negotiating partners".

For Ottawa, Chapter 19 is a red line.

Trump has repeatedly criticized Canada's dairy industry and has used the threat of tariffs on Canada's auto production to push for concessions.

Speaking to reporters Friday in Oshawa, Ont., Prime Minister Justin Trudeau was asked about the reports on Trump's off-the-record comments.


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