US under Trump Series US-Mexico war of words

Jan 26, 2017, 00:43
US under Trump Series US-Mexico war of words

"We will start some negotiations having to do with NAFTA", president Trump said as quoted by Reuters. "We need to make sure we maintain and even improve our pork exports to our neighbors while working to ensure that others benefit as much as we do".

Trade with the United States under the Trump administration will be a key topic as Prime Minister Justin Trudeau and his cabinet hold a three-day retreat in Calgary this week.

It remains to be seen whether the Trump administration can negotiate more favorable terms with trade partners without slowing the cross-border flow of goods and services.

David MacNaughton, Canada's ambassador to the United States, has suggested bilateral agreements outside of NAFTA are a possibility. Nieto agreed to join forces to encourage economic integration in North America, according to a statement from Peno Nieto's office. "This strategy starts by withdrawing from the Trans-Pacific Partnership and making certain that any new trade deals are in the interests of American workers".

Japanese business leaders are warning that U.S. President Donald Trump's protectionist trade policies threaten to undermine a global economy shored up by free trade and investment.

The United States is the biggest business partner for Canada, with PwC saying that the USA represents 79% of growth for Canadian companies. We have security agreements, both continental and multi-lateral. He has previously promised to build a wall along the length of the southern border and that Mexico will pay for it. In fact, USA manufacturing exports to Canada and Mexico have increased almost 260% over the past 23 years, and US farm exports to the countries have grown by more than 150%.

But Canada may well go its own way to protect its own interests with regard to its trade relationship with the U.S.

"One of the things the U.S.is looking at is a potential border tax, which, I think if you're in NAFTA is a good place to be", Schwarzman said.

"Whether that's within an overall NAFTA arrangement, part of that is going to depend on obviously what Mexico's reaction is to what they put on the table".

The so-called border tax adjustment is meant to encourage US companies to source their goods from American suppliers.

Trump officials have yet to raise any specific concerns about Canadian trade, MacNaughton added. "I'm not saying we should be complacent".

"I don't think he (the prime minister) should be enormously anxious", said Schwarzman.

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