Published: Fri, September 07, 2018
Money | By Bruce West

Rick Scott avoids questions on Trump's Mexico trade pact

Rick Scott avoids questions on Trump's Mexico trade pact

They were rushing to bridge their differences by the end of August so Canada could join a preliminary pact the US had struck with Mexico just days earlier. "Canada's the main trading partner for many states, quite a bit of our economic fortunes are entwined with Canada".

The president said Canada's tariffs on USA dairy imports have been excessive over the years and Canada has created "walls" against US businesses. Nor had it made much of a ripple in public discussions on NAFTA, except during some testimony at a few USA hearings, experts say. China has already said it will retaliate.

In response to Trump's tough stance on whether Canada joins the deal or not, Trudeau has incredibly stated he will walk away from a new NAFTA deal unless it meets Canadian needs. Those were launched as a result of a late-July agreement between the US president and the European Commission President Jean-Claude Juncker, though that pact also appeared fragile after Trump told Bloomberg News last week that in trade Europe was "almost as bad as China, just smaller". "The president can not pull America out of NAFTA without Congress' permission", Wyden said in a statement.

The Miami Herald wanted to find out, and asked the governor for his opinion on the new trade agreement Saturday during a Scott visit to Doral, where a slew of Puerto Rican officials, including former Gov. Luis Fortuño, were gathered to endorse his candidacy for the U.S. Senate against Nelson.

Congress must approve any rewrite of the deal and could refuse to endorse an agreement that excludes Canada.

The central bank discussed whether the gradual approach to raising rates that it has been taking over the past year remained appropriate, Bank of Canada Senior Deputy Governor Carolyn Wilkins said in a speech.

The president told Congress he wants to sign a new NAFTA- even if it's only with Mexico- before the end of the year.

Neither Freeland nor Trump spelled out areas of disagreement and neither detailed the progress that had been made. The U.S. and Canada are sparring over issues including U.S. access to Canada's protected dairy market and American plans to protect some drug companies from generic competition.

In fact, since the start of NAFTA talks in August 2017, Trudeau's government set out three "no-go" zones: Canada's quota system that controls dairy, poultry and egg production, a dispute settlement system to resolve complaints about unfair anti-dumping and counter-vailing duties, and the so-called "cultural exemption".

The two lead ministers on NAFTA held lengthy meetings in Washington on Wednesday. Canadian negotiators therefore have less leverage in bargaining with U.S. negotiators than they did before the U.S. -Mexico deal.

As the two sides met for talks, new economic data showed that the USA trade deficit with Canada continues to grow, hitting US$3.1 billion in July, potentially providing ammunition to Trump who has accused Canada of "cheating" Americans.

The existing North American Free Trade Agreement between the U.S., Mexico, and Canada includes a cultural exemption clause, which gives the NAFTA countries special rights to put in place protecting cultural goods and services.

But Congress makes the trade rules in the form of trade promotion authority.

He also said existing protections that ban USA media firms from buying Canadian cultural industries such as television stations and newspapers must be maintained.

But other issues have yet to be worked out, including Canada's cultural exemption in NAFTA.

Canada had agreed to grant USA and other foreign dairy producers greater access to its market during negotiations over the ill-fated Trans-Pacific Partnership, which Trump withdrew the United States from during his first days in office.

"If we don't make a fair deal for the USA after decades of abuse, Canada will be out", he wrote, adding: "Congress should not interfere".

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