Justin Trudeau: New Trade Deal Must Protect Canadian Cultural Sovereignty and Identity

Justin Trudeau: New Trade Deal Must Protect Canadian Cultural Sovereignty and Identity

Justin Trudeau: New Trade Deal Must Protect Canadian Cultural Sovereignty and Identity

Talks with Canada aimed at bringing the top U.S. trading partner into the tentative deal struck with Mexico broke off Friday without success, but the parties agreed to continue talks this week.

Finally, the higher domestic content rule, which requires that 75 per cent (up from 62.5 per cent) of the parts in any vehicle sold in North America be produced in the U.S. or Mexico, presents no real problem for Canada to adopt in a similar agreement with the U.S. Nor does the requirement that 40 per cent to 45 per cent of auto parts in cars sold be made by workers earning at least US$16 per hour.

NPR: "Why The Auto Industry Is Paying Special Attention To NAFTA Negotiations" - "U.S. and Canadian trade negotiators are scrambling today to come to a compromise on a new NAFTA deal".

"We are always going to stand up for the national interest and Canadian values", Freeland said Friday. I'm guessing that's because the U.S. side has an offer to make. "You can't fix NAFTA without fixing issues with Canada", said Senator Ron Wyden, the top Democrat on the Senate Finance Committee, which oversees trade.

"It just makes the United States look like a less reliable partner", he says.

But Trudeau is also digging in and vowing that Canada won't be pressured into a deal.

Trump lashed out at Canada after talks last week failed to yield a final deal. A public comment period wraps up Thursday and people familiar with the White House deliberations last week said the US president is eager to move soon after that.

Trade experts say Canada and the U.S. need to present a text to the U.S. Congress by October 1 to join the deal the Trump administration signed with Mexico last week.

Attacks on the US's "killer", "disastrous" trade deals played a key role in Donald Trump's campaign rhetoric, and their repeal or renegotiation was part of his declared agenda to "Make America Great Again".

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"There's going to be a lot of pressure to get a deal with Canada", Mark Sobel, a former U.S. Treasury official and now American chairman of the research group OMFIF.

"Congress should not interfere w/ these negotiations", Trump tweeted Saturday afternoon, "or I will simply terminate NAFTA entirely & we will be far better off..."

That too was entrenched in the original Canada-U.S. free trade deal that preceded NAFTA.

The seemingly inexorable rise in the US Dollar looks to be running out of steam despite continuing market concerns about the US-China trade talks, discussions on a revamped North American Free Trade Agreement (NAFTA) and emerging-market chaos.

Canada had agreed to grant US 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.

More than two-thirds of Canadian exports go to the United States, equivalent to 20 percent of its GDP, while Canada is the largest export market for the United States. In bilateral talks with the U.S., Mexico successfully sidestepped the sunset clause, although their agreement includes a "review" every six years, with the spectre of termination if problems can't be resolved.

The overall goal is to reach a deal by December 1 so Congress can give its approval to a revised NAFTA before Mexico's new president takes office.

"We need to keep the Chapter 19 dispute resolution because that ensures that the rules are actually followed". The governor believes the real, long term solution to these issues is to reduce our regulatory and tax burden in order to better compete with the global market and employ all tools at our disposal to make sure we're protecting the interests of the USA economy. It also wants to end the dispute arbitration panels, something Canada has used to defend its lumber exports to the US, which industry here says competes unfairly with domestic forestry.

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