Justin Trudeau, unlike Trump, is taking NAFTA renegotiation really seriously

Justin Trudeau, unlike Trump, is taking NAFTA renegotiation really seriouslyā€¯

QUEBEC - in The wake of yet another threat, the american president Donald Trump out of the free trade Agreement north american (NAFTA), the governments of Quebec and Canada showed on Wednesday, their confidence in the negotiation process.

Ostlie added: "It's easy to say we're going to improve NAFTA. I think we'll probably end up terminating NAFTA at some point", Trump said, adding, "I personally don't think you can make a deal without a termination".

The United States, Canada and Mexico wrapped up their first round of talks to revamp the trade pact on Sunday, with little sign of a breakthrough coming.

Trump frequently blasted NAFTA on the campaign trail, labeling it "the worst trade deal" in US history and blaming it for the loss of manufacturing jobs in America's Rust Belt. Prior to that, he has called it the "worst trade deal in the history of the world", blaming it for America's huge trade deficit, the exodus of U.S. manufacturing firms and substantial job losses.

Stocks managed to briefly pare losses after comments from U.S. House Speaker Paul Ryan calling a government shutdown unnecessary.

One person directly involved in the talks described the schedule as exceedingly fast, given that past trade deals took years to negotiate.

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"This was always a card we knew the president would likely play ... it may have been a bit earlier than expected", the official said on the condition of anonymity.

Many of these threats might be political bluster, and it may well be that in the end cooler heads in Washington are able to contain the Trump administration's inflammatory rhetoric.

"Trump's a good business man, he's a very good negotiator and that's his style of negotiation", said Tony Bennett, president of the Texas Association of Manufacturers.

This past spring, when Trump threatened to pull out of the agreement, Agriculture Secretary Sonny Perdue sat him down and explained how important access to the Mexican market is for American farmers and agribusinesses. It could also mean US investors in Mexico and Canada wouldn't be able to submit their grievances to ISDS either. Indeed, Todd Tucker, a trade specialist and fellow with the left-wing Roosevelt Institute, thinks that overall Trump's stated negotiating objects look like "TPP with fewer countries" rather than the comprehensive rethinking of trade policy that Trump promised and Tucker favors. The antagonistic political climate, where the United States wants to win big and Canada and Mexico do not want to lose, severely constrains the set of amendments that all parties can agree upon.

Either way, the office of the USTR has started putting together a proposal that would let the US withdraw from a corporate arbitration system that's part of NAFTA, according to The Wall Street Journal. At meetings with local officials, Canadian ministers "travel armed with data on the precise dollar amount and number of jobs supported by Canadian firms and trade in that area", cultivating current and potential allies to push back against Trump's demands. Trump re-opened negotiations of the 1994 treaty out of concern USA economic interests were suffering.

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