Mexico trade deal text to be released as focus remains on Canada

Trump Didn’t Have A Meeting Scheduled With Trudeau — But He Canceled It Anyway

Chrystia Freeland, Canada's top Nafta negotiator, has postponed a planned speech at the United Nations as the USA and Canada press to reach an agreement on a trade deal. Trudeau spokeswoman Chantal Gagnon said: "No meeting was requested".

Political deadlines are often fuzzy but Canada and the USA appear to be working towards some major compromises and a NAFTA deal.

Nevertheless, Treasury Secretary Steven Mnuchin on Thursday said while he hopes the U.S. and Canada will reach a trade agreement, he's confident Congress will approve a Mexico-U.S. pact, according to The Hill. The U.S. reached an agreement-in-principle with Mexico in late August and wants it approved before the Mexican President Enrique Peña Nieto leaves office November 30.

Foreign Minister Chrystia Freeland, Canada's chief NAFTA negotiator, opted to push back her planned Saturday speech before the UN General Assembly until Monday so she could concentrate on trade matters.

Ujczo said the two sides have also largely settled on a dispute-resolution mechanism similar to that in the original NAFTA known as Chapter 19 - an issue that has always been a major stumbling block in the talks - and on a higher duty-free threshold for goods shipped into Canada: $100, up from $20. "If Canada doesn't make a deal with us, we're going to make a much better deal - we're going to tax the cars that come in".

Trump also claimed that he turned down a meeting with Justin Trudeau to discuss the prospects of a deal "because [Trudeau's] tariffs are too high and he doesn't seem to want to move - and I told him: 'Forget about it'".

Would it be limits to USA takeover of Canadian companies? Trudeau tweeted he reached out to the chief executives leading Canada's Big Five banks to "touch base on NAFTA negotiations".

U.S. Trade Representative Robert Lighthizer has argued that the United State would have to reopen negotiations with the new Mexican government if the deadline is missed, but Lopez Obrador's comments appear to call that into question.

Fears have persisted that Congress would be willing to press ahead with the bilateral agreement if Canada can't get a deal done. The United States and Mexico have already reached a consensus following bilateral negotiations.

Including Canada, U.S. companies' top export market, is considered essential to making a political and economic success of any new North American trade deal.

The two sides are still far apart on major issues such as how to settle disputes and US demands for more access to Canada's protected dairy market. "They know our position, and we will stick to those positions because they are important to our country", he said.

One source says Chapter 19 has not survived the Mexico-U.S. deal, but Chapter 20, the government-to-government dispute settlement mechanism, has been preserved in its entirety. "So it's either going to be the text goes in with Mexico and the USA or the text goes in with all three countries".

"They [Canadian negotiators] keep me up-to-date and they said we are not there yet but there might potentially be something as early as 6 p.m". As of Friday night, sources say that dispute has yet to be resolved.

But that same evening, Canada's ambassador to the US, David MacNaughton, told a Toronto audience that the chance of reaching a deal on Sunday was "50/50".

The U.S. -Mexico deal would increase to 75 percent from 62.5 percent the share of each vehicle that must be produced in the United States to qualify for duty-free treatment.

The president - to say nothing of everyone else in the U.S. capital - has likely been seized all week by the riveting testimony this week out of the Senate Justice Committee, which heard details of the allegations of sexual assault against U.S. Supreme Court nominee Brett Kavanaugh.

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