Donald Trump refuses to commit to trade pact — NAFTA

He sounds like he really means

He sounds like he really means

"Some of us in Mexico think that on several occasions our Canadian friends have come close to throwing us under the bus", Arturo Sarukhan, the former Mexican ambassador to the USA, said at a NAFTA-related event Wednesday in D.C. This week the influential US Chamber of Commerce warned it was time to "ring alarm bells" over the NAFTA talks.

Oil prices have suffered from data released late Wednesday by the American Petroleum Institute (API) showing a surprise build in USA crude inventories and gained little from a report by the International Energy Agency, released Thursday, suggesting the global oil market will be in balance next year despite rising output.

It's fair to say that 2017 has been a turbulent year for Mexico, given that the new White House occupant keeps making public comments threatening North American trade relations. "We can have that discussion, but I really do think it won't be Mexico and Canada that are pushing back against the secretary, it will be a lot of Americans".

However, in his typically uncompromising approach to diplomacy, Trump told reporters later that "if we can't make a deal, it'll be terminated and that will be fine".

He said it was important to make sure the populations affected understand how the treaty benefits them. Speaking in Mexico on Tuesday, the president of the U.S. Chamber of Commerce, Thomas J. Donohue, said the negotiations had "reached a critical moment".

The study, released as NAFTA negotiators from the U.S., Canada and Mexico meet in the Washington, D.C. suburbs, found that a 35 percent tariff that would be placed on auto parts that are made in the U.S. and shipped to Canada or Mexico without the trade agreement's duty-free treatment would result in a job loss of 25,000 to 50,000 in the parts supplier industry.

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"There are several poison pill proposals still on the table that could doom the entire deal". Mexico strongly opposes such a move, which would damage its own vehicle industry. Just four percent of food items in the U.K. originated from North America, and 54 percent of food consumed in the U.K., originated in the U.K.

Rep. Richard Neal of MA, the ranking Democrat on the committee, said he hopes NAFTA will expand Canadian market access for USA cultural industries and "will be an opportunity to update intellectual property rules".

The hard issue of rules of origin will be addressed mostly at the end of the current talks, according to a schedule obtained by Reuters.

Finance Minister Bill Morneau, in Washington for meetings with G20 finance ministers and the International Monetary Fund, was confronted Thursday with several questions about a possible USA exit from NAFTA.

Foreign Minister Chrystia Freeland said Trudeau would "explain really clearly to the President. that Canada is not America's problem".

"I continue to believe in NAFTA; I continue to believe that as a continent, working together in complementary ways is better for our citizens and better for economic growth, and allows us to compete on a stronger footing with the global economy", Trudeau said. -Canada deal that would leave Mexico out entirely.

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