Canada and Mexico rebuke Trump’s ‘fair’ Nafta deal to waive new tariffs
Both Canada and Mexico send more than 75 per cent of their goods exports to the United States
President Donald Trump on Monday caused upset to the US’ neighbours after he expanded his personal trade war, telling Canada and Mexico that he would only consider lifting possible tariffs on steel and aluminium if they concede to White House demands for renegotiating the North American Free Trade Agreement.
Canada and Mexico pushed back against Trump’s attempt at strong-arming, setting the stage for a tense end to the latest Nafta talks.
The two US trading partners have threatened retaliation unless they are exempted from the planned tariffs, which have rattled financial markets. Both Canada and Mexico send more than 75 per cent of their goods exports to the United States.
The three Nafta partners – Canada, Mexico and the United States – have been locked in talks aimed at possibly revamping the trade deal, but no clear framework has so far emerged.
Mexican Economy Minister Ildefonso Guajardo on Monday said that negotiators were close to concluding “a number” of chapters in the pact as he spoke in Mexico City with officials from the United States and Canada at the end of the seventh round of negotiations.