7th round of NAFTA talks end on mixed note

10 March, 2018, 01:57 | Author: Elena Meyer
  • European Trade Commissioner Cecilia Malmstrom in Stockholm

Prime Minister Justin Trudeau placed a personal call to President Donald Trump Monday evening to let him know just how damaging going through with his threat to slap steep tariffs on aluminum and steel would be to Canadian workers.

"The first thing I did when that tweet came out yesterday morning, I got in touch with the federal government to tell them our industry was not expecting anything out of this...that the government should remain firm in its positions", he said Monday. "It must be that way".

If the NAFTA talks collapse and Trump pulls out of the agreement, "this is mostly a concern for importers from Mexico", he said.

If NAFTA fell apart, the victor would not be the U.S., Mexico or Canada.

During the opening of the joint $33-million McMaster University-Fraunhofer Project Centre for Biomedical Engineering and Advanced Manufacturing facility March 7, the German ambassador to Canada, Sabine Sparwasser, talked about Germany and Canada united in an effort to fight against protectionism "in a time of political division". "We are looking to make sure that USA companies can compete fairly around the world".

"We're allies in national security. our industries are highly integrated, we buy more (U.S.) steel than we sell, and so there's no point in shooting oneself in the foot", he said.

Canada may get a special exemption allowing it to avoid the impact of U.S. President Donald Trump's controversial steel and aluminum tariffs, a White House spokeswoman suggested Wednesday.

Stephen Curry leaves game vs. Spurs with ankle injury
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The looming departure of Cohn, a former Goldman Sachs executive who has opposed the promised tariffs, set off anxiety among business leaders and investors anxious about a potential trade war.

Mnuchin told Young that he and Agriculture Secretary Sonny PerdueGeorge (Sonny) Ervin PerdueTrump proposes restricting choices for food stamp recipients Regulatory restructure of biotech is critical to the future of USA agriculture The Hill's 12:30 Report MORE have "had significant input into these discussions".

On Monday morning, Trump also implied that he wants Mexico to alter some of its behavior if officials there want any chance of relief from the coming tariffs.

It's essential Canada convince Republicans to support the "need for a rules-based" trading system, Bonnett said, adding he is "disappointed" by Trump's "cherry-picking" figures when discussing a trade deficit with Canada. The United States are exposing their economy to "serious adverse effects that are greater than the expected gains", noted Jean Simard, president and CEO of the AAC. White House trade adviser Peter Navarro told CNN Sunday that no country will be excluded from the tariffs.

Should NAFTA be rescinded, the board assumes Canada would return to most favoured nation tariffs under World Trade Organization agreement.

The German government warned yesterday that a transatlantic trade war would harm both Europe and the United States, urging Washington not to take a "wrong path" after a weekend of aggressive rhetoric. "An environment of US dollar weakness is supportive of commodities broadly".



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