US, Canada reach NAFTA deal: report
Source: The Hill
The U.S. and Canada have reportedly reached a deal on an updated North America Free Trade Agreement (NAFTA) after negotiators in Washington and Ottawa worked furiously into the night to meet a self-imposed midnight Sunday deadline.
Multiple outlets have reported that Canada late Sunday had agreed to join the three-nation agreement, which also includes Mexico. The White House is expected to make a formal announcement later Sunday, after which it will send the text of the agreement to Congress before the deadline expires.
After a week of intense work, the U.S. and Canada reportedly managed to grind out a deal on the toughest issues, including access to the Canadian dairy market.
...snip...
Trump threatened last week to push Canada out of the deal and had seemingly given up on the weekend deadline while threatening Ottawa with auto tariffs if a deal couldn't be reached.
Read more: https://thehill.com/policy/finance/409182-us-canada-reach-nafta-deal-report
IthinkThereforeIAM
(3,076 posts)... there are no details in the article. I was hoping to see what kind of rules changes, etc... were made as to milk and butterfat, ie... butter. That is where the real money in the milk industry is right now.
elleng
(130,908 posts)*The 11th-hour agreement was punctuated by a frenetic Sunday, with Canadas leaders teleconferencing throughout the day with top American officials in Washington. Mr. Trudeau convened a 10 p.m. cabinet meeting in Ottawa to brief officials on the deal, as Jared Kushner, one of Mr. Trumps closest advisers, and Robert E. Lighthizer, the presidents top trade negotiator, hashed out the final details. Mexicos under secretary of foreign trade, Juan Carlos Baker, was expected to present the texts of the agreement to the Mexican senate just before midnight.
In a joint statement, Mr. Lighthizer and Canadas foreign affairs minister, Chrystia Freeland, said the new deal will give our workers, farmers, ranchers and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region. . .
As part of the deal, Canada will ease protections on its dairy market and provide access that is greater than what the United States would have gained through the Trans-Pacific Partnership, a trade treaty that Mr. Trump withdrew from last year.
The United States also relented on its demands to eliminate an independent tariff dispute settlement system that Canada has said is a red line in negotiations. Keeping that was a major concession for the United States and a change for what was agreed with Mexico.
The countries also reached an understanding that would protect Canada from the automobile tariffs that Mr. Trump has routinely threatened, though it is not clear how far those protections would extend. A senior administration official said that if those tariffs were imposed on global imports, Canada and Mexico would receive accommodations for their existing car production.'>>>
https://www.nytimes.com/2018/09/30/us/politics/us-canada-nafta-deal-deadline.html?
IthinkThereforeIAM
(3,076 posts)... I am still curious as to what is going to happen with the automotive tariffs. So many of the engines in, 'American', cars are made in Canada and Mexico.
ooky
(8,923 posts)without any details on how its going to change the trade deficits. For Trump's ignorant base right before the mid-terms.