Home » Money

Energy Industry Awaiting Details on Tentative U.S.-Mexico Trade Pact

01 September, 2018, 19:24 | Author: Kristi Dunn
  • Trump has been a frequent critic of NAFTA calling it the

President Donald Trump has been negotiating with the U.S.'s neighbors to the north and south. Mexico, the US, and Canada have been trying to negotiate a new trade deal for about a year. -Mexican discussions, Canada's team is back in full force in the American capital for the first time since the spring and Freeland says the negotiators are intensively focused on finding new areas of compromise.

Canadian Foreign Minister Chrystia Freeland will arrive in Washington, D.C., on Tuesday to meet with U.S. Trade Representative Robert Lighthizer.

The pressure came one day after the USA president again blasted the Canadian dairy industry during his announcement of a trade agreement with Mexico that he said could replace NAFTA.

Donald Trump's administration is giving Canada until Friday to sign onto a bilateral trade deal between the US and Mexico or be treated as "a real outsider" against whom punishing tariffs on autos will be imposed.

As she emerged from the high-stakes meeting with her USA counterpart Wednesday in Washington, Freeland emphasized the "compromises" by Mexico in their bilateral trade deal with the U.S.to increase the wages of its auto workers.

Despite some contentious issues still on the table, the increasingly positive tone contrasted with U.S. President Donald Trump's harsh criticism of Canada in recent weeks, raising hopes that the year-long talks will conclude soon with a trilateral agreement.

Two key issues for the US and Canada are dairy and anti-dumping dispute panels.

But Canada is a dominant exporter of crude oil to the United States: It accounts for 47 percent of the barrels imported to the United States, according to the U.S. Census Bureau. And I think that we're going to look closely at some of the other things that have been agreed to between the USA and Mexico and see just whether or not they can be made to work in the Canadian context.

Canadian Prime Minister Justin Trudeau said he thought the Friday deadline could be met. The proposed deal between Mexico and the United States intensifies pressure on Canada to agree to the same terms.

Authorities Identify Mystery Woman in Texas Doorbell Video
Authorities say the man was found dead from a single gunshot wound after deputies responded to a welfare call. As reported by the Independent, the Montgomery woman luckily has also been found safe and sound.

The 24-year-old NAFTA, which also includes Mexico and is integral to the continent's economy, has been under renegotiation for more than 12 months.

Ricketts said he emphasized the importance of NAFTA during the visit, and has previously encouraged USA officials to finalize an agreement.

The crucial phase of talks began Tuesday continuing late into the night, and Trudeau expressed optimism the countries could reach agreement by the end of the week.

Freeland said Canada was "extremely involved" in the progress that was made between the US and Mexico over the summer. "If Canada doesn't sign on, it's a problem". "It will either be a tariff on cars, or it will be a negotiated deal; and frankly a tariff on cars is a much easier way to go, but perhaps the other would be much better for Canada".

The White House has said Trump will sign the deal 90 days after notification. "And we gave 'till Friday and I think we're probably on track". He also warned that the USA and Mexico would move forward bilaterally without Canada.

The Trudeau government has repeatedly pledged to protect dairy farmers, but Canada has opened up limited access to its dairy market in previous trade talks, including its comprehensive pact with the European Union.

Markets appear unconcerned, with Canadian auto-parts makers Linamar Corp. and Magna International Inc. extending gains Tuesday - signaling a bet Canada will make the cut on a final deal and that the Mexico problems were the biggest ones that needed fixing. "He's never going to get that from the Congress". Trump himself has avoided directly calling for the dismantling of supply management during his frequent attacks on Canadian dairy, including during Monday's announcement with Mexico.

Shortly after Trump's first State of the Union address, in which he barely mentioned energy issues, API's Mark Green urged the administration in a blog post to recognize how the US oil and gas industry has benefited from NAFTA, specifically, by opening markets for USA crude, natural gas and finished products.

Recommended:



Popular

Ramos says he was surprised at Ronaldo's remarks after Champions League success
Jurgen Klopp has asserted that he expected a hard group in the Champions League after his side were drawn in a "group of death". Notably, Modric was also adjudged the best player of the 2018 FIFA World Cup in Russian Federation .

Apple to unveil to new iPhone models!
The Company is likely to unveil multiple new iPhones and possibly a new Apple Watch and an updated iPad Pro . The Apple Watch 4 is expected to look slightly different with thinner bezels than the previous models.

Chicago Bears outbid Cleveland Browns, others for Khalil Mack
Like Donald, who was drafted the same year Mack was, he deserves to be compensated for his efforts. Either way, the trade brings the Mack saga to a swift and shocking end in Oakland.

Apple's next event will be September 12
We saw this past year when almost every detail/feature concerning the 2017 iPhone X were spoiled by a HomePod firmware leak . The highlight of the entire event alongside the new iPhone line-up is said to be the unveiling of the Apple Watch Series 4.

France scallop war in pictures: ‘Firebombed’ trawlers return home
He defended the Brits' position claiming they were in global waters and therefore entitled to fish in the location where they were ambushed.

Aaron Rodgers makes National Football League history with Packers extension
The 14th-year veteran is the league's all-time leader in passer rating (103.8) and interception rate (1.6 percent). Schefter later reported that the deal includes $103m practically guaranteed and $67m due before the end of 2018.

In Upset, Progressive Bests Dem Frontrunner In Florida Gov Primary
Following her win Tuesday, President Trump praised McSally for her win and rejecting an endorsement from Senator Jeff Flake. On the Democratic side, progressive candidate Andrew Gillum , also 39, won the nomination in a surprising upset.

In debate with Nixon, Cuomo vows to serve full third term
Observers had predicted that Nixon would attempt to rattle the governor in the hopes that he would misspeak. The victor faces Republican Marc Molinaro and independent Stephanie Miner in the November election.

Pope About Call for Resignation: "I Will Not Say a Single Word"
Church officials of covering up the case of former Cardinal Theodore McCarrick , the retired archbishop of Washington D.C. In June 2013, the former Archbishop contends, Pope Francis asked his assessment of McCarrick during a private audience.

AUSTRALIA: Julie Bishop resigns as foreign minister
I'm far more powerful than you could ever hope to be but I think the praise is in the wrong direction, ' he said. Angus Taylor was chosen as energy minister, tasked with the job of lowering soaring electricity prices.