Canada More Convinced Trump Will Withdraw from NAFTA

Minister Chrystia Freeland speaks to the media as she arrives for the first day of a cabinet retreat in London Ontario on Thursday Jan. 11 2018. The meeting comes a day after the loonie and Mexican peso plunged after reports tha

A Canadian source familiar with the talks said officials had been talking informally for weeks about the possibility of suspending the process this year but stressed no decisions had been made.

The question now is whether the president will decide to blow up NAFTA (or at least try - the legal mechanisms for withdrawal are uncertain and Congress may block a US exit). "I think it would be especially bad for this region because we're so closely integrated into the USA economy", said Anderson.

Juan Pablo Castanon, President of the Business Coordinating Council, is pictured at the location where the second round of NAFTA talks involving the United States, Mexico and Canada is taking place in Mexico City, Mexico, September 4, 2017.

Trump - who has long threatened to walk away from the 1994 North American Free Trade Agreement unless major changes are made - told the Wall Street Journal on Thursday that "a lot of things are hard to negotiate" ahead of a Mexican presidential election in July.

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The supermarket said its turkey prices were amongst the "lowest" in the land. "As a result, full year guidance remains unchanged". He said that but for October's unseasonable mild weather, M&S would have had a positive sales performance for clothing.

"The reality is that the U.S. courts are not going to support any allegation made by Canada or Mexico, they are going to support the American businesses community", Dias said.

"We believe it is absolutely possible, if there is goodwill on all sides, to have a positive outcome in Montreal", she said.

Hush-hush rumors or fact, but the Canadian officials perceive increased likelihood of the NAFTA negotiations waning out, leading the United States to leave the trade agreement, dealt CAD and MXN a severe blow last night.

Scott Minerd, Global Chief Investment Officer at Guggenheim Partners, said "if Trump were to announce a NAFTA exit, the stock market would probably pull back by 5 percent or so before advancing to new highs". Chuck Grassley also released a statement on Tuesday urging the administration to protect farmers by keeping the deal intact.

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The U.S. content requirement would decimate the Canadian auto industry, according to Jerry Dias, president of the Unifor trade union. Trucks built there could be subject to a 25 percent tariff if the USA exits NAFTA.

"They're getting smarter on this", Donohue said of the White House's trade strategy.

A relatively modest reversal would result because Canadian policy would not be static - the collapse of NAFTA would likely trigger looser monetary policy, a weaker dollar, new trade deals and adjustments to fiscal policy.

Canadian officials see rising odds that Trump will leave NAFTA
Kansas City Southern fell as much as 4.6 per cent after the report, its biggest loss in more than eight months. The next round of NAFTA talks - the sixth so far - will be held in Montreal from January 23 to 28.

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