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  1. #1
    Super Moderator GeorgiaPeach's Avatar
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    BREAKING Reports: Last Minute Trade Agreement Possible as Deadline Looms for Canada t

    BREAKING Reports: Last Minute Trade Agreement Possible as Deadline Looms for Canada to Join U.S-Mexico Trade Bloc…


    September 30, 2018


    10:30pm EST – The U.S. and Canada have agreed on a trade deal that would save the North American Free Trade Agreement as a trilateral bloc, according to three people familiar with the matter.


    President Donald Trump has approved the developments and the expectation is that an agreement will be announced on Sunday night, according to the people, who spoke on the condition of anonymity. U.S. Trade Representative Robert Lighthizer and Canadian officials are working on the final touches. (more)


    All day various media have been reporting on desperate, intense, and generally fast-moving last minute negotiations as a midnight deadline looms for Canada to join the U.S-Mexico trade agreement. Expect the critical details to be framed around “Side Letters”. Carve-outs within an agreement which remove the contentious aspects.




    Canadian Foreign Minister Chrystia Freeland abandoned a U.N. speech to rush back to Canada on Friday night. Tonight Canadian Prime Minister Justin Trudeau went to Ottawa to join the Canadian negotiating team in a series of back-and-forth conference calls between the U.S. and Canadian government. USTR Robert Lighthizer and trade envoy Jared Kushner have been briefing President Trump throughout the day.

    OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau called a late-night Cabinet meeting for Sunday amid signs that Canada and the United States were on the verge of sealing a deal to update NAFTA after frantic talks.

    Negotiators from both sides spent two days talking by phone as they tried to settle a range of difficult issues such as access to Canada’s dairy market and U.S. tariffs.

    U.S. President Donald Trump’s administration has said Canada must sign on to the text of the updated North American Free Trade Agreement by a midnight Sunday deadline (0400 GMT Monday) or face exclusion from the pact. Washington has already reached a bilateral deal with Mexico, the third NAFTA member. (read more)








    According to one report “side-letters” are being deployed to remove the conflicts within the trade disagreement. That’s the same approach within some provisions of the bilateral Mexico-U.S. deal.

    Two nations sign a side letter allowing Washington to pursue tariffs and set quotas on aspects of disagreement. Side-Letters allow the U.S. to shape and modify concessions allowed within the main agreement over time. The Mexican government agreed to a side letter on the auto-sector, allowing them some insurance that tariffs inside the auto industry would not be a factor so long as a particular quota threshold was not crossed.
    This could be, and is likely to be, the approach toward finding common ground with Canada.

    Some people familiar with the talks credited Trump senior adviser Jared Kushner for helping smooth the path toward a deal. When it looked like negotiations had stalled or broken down due to friction between the U.S. and Canadian sides, Kushner kept talks going with aides close to Prime Minister Justin Trudeau, including Gerald Butts and Katie Telford, three people said.

    Lighthizer and Kushner were at the USTR office in Washington on Sunday afternoon negotiating final details by conference call with the Canadians in Ottawa. U.S. officials have been keeping Trump in the loop on every step since Friday, two people said.



    (Tweets at Link)


    https://theconservativetreehouse.com...co-trade-bloc/
    Last edited by GeorgiaPeach; 09-30-2018 at 11:36 PM.
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  2. #2
    Senior Member Judy's Avatar
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    US and Canada reach deal on NAFTA

    By Jeremy Diamond, Kevin Liptak, Paula Newton and Donna Borak, CNN
    Updated 11:33 PM ET, Sun September 30, 2018

    (CNN) Canada has agreed to sign on to a trade deal between the United States and Mexico, preserving the three-country North American Free Trade Agreement after more than a year of tortuous negotiations, a US official and a Canadian official told CNN late Sunday.

    The US and Canadian governments agreed to a deal that would allow US farmers greater access to Canada's dairy market and address concerns about potential auto tariffs just hours before a self-imposed midnight deadline, the officials said.

    Further details are expected before midnight.

    Negotiators from the three countries spent all weekend working over the phone, hoping to keep the trilateral deal intact.

    Earlier in the evening, President Donald Trump was briefed on the nearly finalized negotiations by US Trade Representative Robert Lighthizer and White House adviser Jared Kushner.

    The Trump administration plans to send the new deal to Congress, starting a 60-day review period before Trump can sign it. Congress can suggest changes during that time.

    Ahead of the weekend's talks, several lawmakers had warned that they would not support a deal without Canada.

    "It would be a monumental mistake to do this without Canada," US Senator Ron Wyden of Oregon, the top Democrat on the Senate committee that oversees trade, said Friday, before the text was delivered. "It's basically surrendering on fixing NAFTA."

    The Trump administration has been working to sign a new trade deal before Mexican President Enrique Peña Nieto leaves office on December 1. To meet that deadline, the text of the agreement had to be submitted to Congress before October.

    Negotiators from the three countries began talks about updating NAFTA more than a year ago. Trump had campaigned on ripping up the trade pact, calling it "the worst deal maybe ever signed."

    In August, the United States and Mexico resolved an issue over auto manufacturing, but several sticking points with Canada remained. Trump wanted Canada to open its dairy market to US farmers, and Canada wanted to preserve a mechanism for resolving disputes.

    Those goals were achieved in the deal reached late Sunday, according to a Canadian official with knowledge of the negotiations.

    The access to Canada's dairy market will closely mirror what was given under recently negotiated agreements between Canada and the European Union and a separate one with Pacific countries, the Canadian official said.

    Canada and Mexico are two of the biggest trading partners with the United States. A deal that leaves one of them out could cause chaos for businesses that rely on imports.

    The US Chamber of Commerce has said it would be "unacceptable to sideline Canada, our largest export market in the world." Vehicles, machinery and agricultural products make up much of the goods traded.

    https://www.cnn.com/2018/09/30/polit...ada/index.html
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  3. #3
    Senior Member Judy's Avatar
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    Canada and US reach deal to replace NAFTA

    The United States and Canada have agreed to a deal replacing the North American Free Trade Agreement, according to a senior U.S. administration official.

    Canada, America's second largest trading partner, was left out when the U.S. and Mexico reached a preliminary deal in late August to revamp NAFTA.

    Everett Rosenfeld | Joanna Tan | Liz Moyer
    Published 1 Hour Ago Updated 1 Min Ago CNBC.com

    The United States and Canada have agreed to a deal replacing the North American Free Trade Agreement, according to a senior U.S. administration official.

    The new deal has been deemed the USMCA — the United States-Mexico-Canada Agreement — the official said, and the text would be made public within hours of the agreement. The plan is for the leaders of the three North American countries to sign before the end of November, after which it would be submitted to Congress.

    The negotiations between American and Canadian officials involved offering more market access to U.S. dairy farmers, as well as Canada agreeing to an arrangement effectively capping automobile exports to the United States.

    The American official said the deal will "re-balance our trade relationship with Mexico and Canada," highlighting new rules on the origin of autos, and market access to Canada's dairy sector.

    The deal will also modernize what was covered by NAFTA by adding provisions on digital trade and intellectual property, the administration official said.

    A U.S. official also pointed to the prospect of enforcing the agreement, calling it "one of the most enforceable trade agreements we've ever had."

    "This is going to be real, and it's going to change people's lives, and it's going to make the U.S. economy stronger and better," that official said.

    Of note, the new trade pact will come up for review every six years, which will give the U.S. a "significant new form of leverage" to make sure the arrangement is to its liking, according to that senior American official.

    The issue of enforcement was front and center in a statement on the deal from Senate Finance Committee Ranking Member Sen. Ron Wyden, D-Ore.

    "As I've said many times, NAFTA has long needed a serious overhaul," he said. "The crucial test for a new NAFTA, or any new trade agreement, is whether it is enforceable, particularly with respect to promises to protect worker rights and the environment. Americans are sick of hearing speeches about the benefits of new trade agreements when the agreements in place aren't even enforced and their opportunities don't materialize."

    Negotiators were racing to meet a U.S.-imposed Sept. 30 deadline to reach an agreement with Canada as they tried to roll out a new North American trade pact.

    Canada, America's second-largest trading partner, was left out when the U.S. and Mexico reached a preliminary deal in late August to revamp NAFTA. Canada was expected to join the talks after that, and the two sides have sparred over dairy products.

    U.S. Trade Representative Robert Lighthizer said he was prepared to move ahead with just Mexico, but some in Congress, which has to approve a deal, were against leaving Canada behind.

    Canadian Prime Minister Justin Trudeau had earlier told reporters in New York during U.N. week that they will keep working on a "broad range of alternatives."

    —CNBC's Ylan Mui and Reuters contributed to this report.

    https://www.cnbc.com/2018/10/01/us-c...ade-talks.html
    Last edited by Judy; 10-01-2018 at 12:11 AM.
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    Super Moderator GeorgiaPeach's Avatar
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    NAFTA should have been totally dissolved. I see the new name but the idea of the 3 interconnected countries remains the same. We will see what concessions may have been made from the United States toward Canada.

    President Trump says he prefers bi-lateral trade deals. Congressional approval may have been a stumbling block toward that.
    Last edited by GeorgiaPeach; 10-01-2018 at 12:00 AM.
    Matthew 19:26
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  5. #5
    Senior Member Judy's Avatar
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    Wow. Trump and his team did it. NAFTA is dead, a new great deal with both Mexico and Canada has been agreed to with good enforcement provisions, 6 year reviews, more balanced trade which will reduce the goods deficit and many other great goals now met.

    Congratulations, President Trump, Wilbur Ross, Robert Lighthizer and Peter Navarro. Many thanks to Jared Kushner for helping with Canada. Great Job by all!!!

    Wow. Just Wow. It's Done. Trump killed a 26 year old NAFTA disaster with a thousand cuts, a new name and the toughest negotiation skills of any President to ever sit in the Oval Office with the best Pro-America Economic Team ever to work in a US Administration, and they did it in 1 year and 8 months.

    The NAFTA WITCH IS DEAD!!!!

    KEEP TRUMP TRAIN ROLLIN' ROLLIN' ROLLIN'!! VOTE ALL RED!! VOTE ALL REPUBLICAN IN 2018!!!!
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  6. #6
    Senior Member Judy's Avatar
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    Quote Originally Posted by GeorgiaPeach View Post
    NAFTA should have been totally dissolved. I see the new name but the idea of the 3 interconnected countries remains the same. We will see what concessions may have been made from the United States toward Canada.

    President Trump says he prefers bi-lateral trade deals. Congressional approval may have been a stumbling block toward that.
    CNN didn't report it accurately. Check out the CNBC article. It's a whole new deal but still a tri-lateral deal which I have no problem with when the terms protect and benefit our country. They're great, so much better for the USA. Trump isn't going to let the name NAFTA stand either, it's the US-Mexico-Canada Trade Agreement, USMC .... now. He doesn't want any of that "North America" crap in the title of a trade agreement with the United States.

    Last edited by Judy; 10-01-2018 at 12:10 AM.
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  7. #7
    Super Moderator GeorgiaPeach's Avatar
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    Canada, U.S. reach deal to save NAFTA as trilateral trade pact


    By David Ljunggren and Roberta Rampton


    OTTAWA/WASHINGTON (Reuters) - The United States and Canada reached a deal on Sunday to salvage NAFTA as a trilateral pact with Mexico, beating a midnight deadline with agreements to substantially boost American access to Canada's dairy market and protect Canada from possible U.S. auto tariffs, sources with direct knowledge of the talks said.


    President Donald Trump had threatened to splinter the nearly 25-year-old North American Free Trade Agreement into a bilateral pact with Mexico and tax Canadian vehicle exports to the United States if Ottawa had failed to sign on before a midnight Sunday deadline (0400 GMT Monday).


    But Trump has approved the "framework" deal with Canada, a source familiar with the decision said, just days after he sharply criticized Canadian Prime Minister Justin Trudeau and his NAFTA negotiating team.


    Trump blames NAFTA for the loss of American manufacturing jobs and wants major changes to the pact, which underpins $1.2 trillion in annual trade. Markets fear its demise would cause major economic disruption.


    Negotiators from both sides spent two days talking by phone as they tried to settle a range of difficult issues such as access to Canada's closed dairy market and U.S. tariffs.


    The deal will preserve a trade dispute settlement mechanism that Canada fought hard to maintain to protect its lumber industry and other sectors from U.S. anti-dumping tariffs, Canadian sources said.


    But this came at a cost.


    Canada had agreed to provide U.S. dairy farmers access to about 3.5 percent of its approximately $16 billion annual domestic dairy market, the sources said, adding that the Canadian government is prepared to offer compensation to dairy farmers hurt by the deal.


    The influential Dairy Farmers of Canada lobby group - which strongly opposes the idea - said in a statement that it insisted "any final NAFTA deal should have no further negative impact on the dairy sector."


    Canada also agreed to a quota of 2.6 million vehicles exported to the United States in the event that Trump imposes 25 percent global autos tariffs on national security grounds, Canadian and U.S. auto industry sources said.

    The quota would allow for significant growth in tariff-free automotive exports from Canada above current production levels of about 2 million units, safeguarding Canadian plants.


    But the deal failed to resolve U.S. tariffs on Canada's steel and aluminum exports, the Canadian sources said.


    "We celebrate the trilateral agreement. The door is closed to the fragmentation of the region," Jesus Seade, President-elect Andres Manuel Lopez Obrador's NAFTA negotiator said on Twitter. "NAFTA 2 will give certainty and stability to Mexican trade with its partners in North America."


    The Canadian dollar and Mexican peso both rallied as word circulated that a trilateral deal had been hammered out. The loonie was up 0.60 percent versus the greenback while the peso gained 0.80 percent.[MKTS/GLOB]


    U.S. stocks looked set to rally on the news. S&P 500 Index e-mini futures were up 0.6 percent, suggesting the benchmark index was on track to open the week back near record territory.


    U.S. business groups opposed turning NAFTA into a bilateral deal because the three nations' economies have become closely intertwined since the original pact came into force in 1994.


    Officials have blown through several deadlines since the talks started in August 2017.


    (Reporting by David Ljunggren in Ottawa and Roberta Rampton in Washington; Additional reporting by David Shepardson and David Lawder in Washington and Anthony Esposito in Mexico City; Editing by Lisa Shumaker, Peter Cooney & Kim Coghill)



    https://www.yahoo.com/news/canada-u-...005101290.html
    Last edited by GeorgiaPeach; 10-01-2018 at 12:12 AM.
    Matthew 19:26
    But Jesus beheld them, and said unto them, With men this is impossible; but with God all things are possible.
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  8. #8
    Super Moderator GeorgiaPeach's Avatar
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    Quote Originally Posted by Judy View Post
    CNN didn't report it accurately. Check out the CNBC article. It's a whole new deal but still a tri-lateral deal which I have no problem with when the terms protect and benefit our country. They're great, so much better for the USA. Trump isn't going to let the name NAFTA stand either, it's the US-Mexico-Canada Trade Agreement, USMC .... now. He doesn't want any of that "North America" crap in the title of a trade agreement with the United States.

    I will read it Judy.
    Matthew 19:26
    But Jesus beheld them, and said unto them, With men this is impossible; but with God all things are possible.
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  9. #9
    Senior Member Airbornesapper07's Avatar
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    Fox Business

    BREAKING: The United States and Canada reached a deal to update NAFTA and keep it a trilateral pact with Mexico, beating a midnight deadline, two Canadian sources told Reuters.




    foxbusiness.com

    Canada, U.S. reach deal to update NAFTA: Canadian sources

  10. #10
    Super Moderator GeorgiaPeach's Avatar
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    USMCA: U.S. and Canada Reach Basis of Deal to Replace NAFTA


    September 30, 2018

    Michelle Moons





    The U.S., Mexico, and Canada came to a late-hours agreement Sunday to create a trilateral trade deal to replace NAFTA that is being deemed the USMCA, U.S.-Mexico-Canada Agreement.


    Senior Trump administration officials briefed reporters late Sunday night on the new deal, just one hour before the deadline set to send a U.S.-Mexico deal to Congress.


    The USMCA “includes ambitious new market access provisions for our farmers and ranchers,” according to the officials. It also includes provisions to make sure the deal does not get “stale and outdated”


    Provisions address digital trade, establish groundbreaking intellectual property provisions, and combat currency manipulation.


    “We think this is a fantastic agreement for the United States but also for Canada and Mexico,” one of the officials stated.


    Officials pointed to a review provision as giving the U.S. a significant form of leverage to get people to meet the mark and keep obligations. They emphasized the U.S. is committed to “strong and effective enforcement of this agreement.” They said this reinforces that this is not just words on paper.


    The deal is “going to change peoples lives and it’s going to make” America stronger and better, the officials conveyed. They said they are “very very excited about it over here.”


    “Canadian Prime Minister Justin Trudeau called a meeting with his Cabinet late Sunday,” the Associated Press reported Sunday night ahead of the announcement of the new deal.



    The U.S. senior administration officials told reporters on Sunday night’s call that the deal will be signed at end of November and will be submitted to Congress after that for the next Congress at the beginning of 2019.




    https://www.breitbart.com/big-govern...ours-deadline/
    Matthew 19:26
    But Jesus beheld them, and said unto them, With men this is impossible; but with God all things are possible.
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