Published: Fri, September 14, 2018
Money | By Bruce West

NAFTA: "store supply management, " said Teamsters Canada

NAFTA:

Top U.S. and Canadian trade negotiators were set for a second day of talks on Thursday over a revised North American Free Trade Agreement after their subordinates worked late into the night to flesh out opportunities for a compromise deal.

Canadian Foreign Minister Chrystia Freeland said late on Wednesday that talks were at "a very intense moment" but said there was "a lot of good will" between Canadian and US negotiators.

The Canadian dollar edged up 0.07 cents to 0. Otherwise, he says, the Americans could invade the canadian market.

Also among losing stocks in the materials sector, Lundin Mining lost a cent to 6.43 Canadian dollars, while Agnico Eagle Mines faded 19 cents to 43.54 Canadian dollars.

It is unclear how long the current round of talks will go on in Washington.

People close to the prime minister reject the suggestion he misread Trump and cite what they say is the president's highly unpredictable nature.

"We recognize that there is a possibility of getting there by Friday, but it is only a possibility, because it will hinge on whether or not there is ultimately a good deal for Canada", he said at a news conference in northern Ontario on Wednesday.

Officials have identified the main sticking points as Canada's dairy quota regime, Ottawa's desire to keep a trade dispute-resolution mechanism and Canadian media laws that favor domestically produced content.

Canada and the USA are trying to finalize a text that could be submitted to Congress by the end of the month to join the deal the Trump administration signed with Mexico.

Even Prime Minister Trudeau suggested in an interview a week ago Canada was willing to bend on dairy.

Over the weekend, negotiators continued working to try to hammer out a deal.

Former federal Canadian trade official Matthew Kronby said the reported American demands indicate to him that the White House doesn't really want to strike a deal with Canada. It also wants to continue protections for its dairy industry and defend lumber exports to the United States, which have been hit with duties.

The latest talks between Canada and the United States have been intense but constructive, marking a departure from acrimonious tit-for-tat that surrounded past rounds.

"And one of the things that I think we are accomplishing in this agreement is a better deal for Canadian and USA workers in the auto sector".

Canada's dairy farmers believe they've already given enough to foreign producers in previous trade deals and aren't interested in ceding any more ground.

Trump has claimed that the 1994 pact has caused the loss of hundreds of thousands of U.S.jobs, something that most economists dispute.

Canada's Foreign Minister Chrystia Freeland after a meeting with Mexico's President-elect Andres Manuel Lopez Obrador in Mexico City, Mexico July 25, 2018.

After the arbitrary deadline passed without any concessions from the Canadians, let alone a finalized deal, Trump once again threatened to exclude Canada from the new NAFTA via Twitter.

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