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Trump announces trade deal with Mexico, Canada on sidelines

27 August, 2018, 23:02 | Author: Lawrence Cooper
  • 'Very important' NAFTA issue remains as reports say U.S.-Mexico near deal

Donald Trump has announced a trade "understanding" with Mexico that could lead to an overhaul of the North American Free Trade Agreement (Nafta).

A spokesman for the Canadian foreign minister said they had been in touch with NAFTA negotiators, and added: "We will only sign a new NAFTA that is good for Canada and good for the middle class".

The North American Free Trade Agreement was signed by Canada, Mexico, and the United States in 1993, during the presidency of Bill Clinton.

Trump announced the agreement from the Oval Office Monday, with Mexican President Enrique Peña Nieto dialed in on a conference call.

The deal between the US and Mexico is expected to include several changes the Trump administration believes will help to wrest some vehicle and car-parts manufacturing back to the USA from Mexico and from overseas.

Negotiations on rewriting the three-country NAFTA agreement began about a year ago.

WASHINGTON-In a major advance in NAFTA negotiations, the US and Mexico have come to a preliminary deal on new North American rules for automotive manufacturing and on other key issues, USA news outlets reported on Monday.

The agreement between the United States and Mexico on Monday was a significant marker in the yearlong effort to renegotiate the trilateral trade pact, sweeping away key obstacles impacting the USA and Mexico that had held up trilateral talks.

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But Trump hinted that all might not be smooth sailing from here, suggesting he could cut Ottawa out of the deal reached with Mexico and adding that he wanted to change the agreement's name.

Read the full report at Fox News.

Canada's Foreign Affairs Minister Chrystia Freeland is now overseas on a diplomatic trip to Germany, Ukraine and France. President Donald Trump's fresh outburst at Canada on Monday will also make it hard to close the pact by the end of this week.

Separately, a Mexican source familiar with the talks said it was "almost certain" there would be an announcement on Monday.

US Mexico NAFTA agreement includes 10 years of data protection for biologic drugs.

It also puts other countries on notice that Mr. Trump isn't backing down from his America-first trade policies and his use of tariffs to force concessions from major trading partners such as China and the European Union.

"While any news of progress on restoring Nafta certainty is reassuring for American farmers, there are questions that remain on the nature of a final deal", Brian Kuehl, the organisation's executive director, said in a statement. A draft fact sheet specified the content would be made in the United States and Mexico.

Adam Austen, who speaks for the foreign affairs minister, says Canada had been in regular contact with the NAFTA negotiators. Trump flipped states like Michigan, Pennsylvania, and OH from Democrat to Republican in 2016 by promising economic prosperity in part by improving trade deals.

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