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NAFTA talks run up against deadline; U.S. tariffs remain tough issue

NAFTA talks run up against deadline; U.S. tariffs remain tough issue

- Tough talks - US President Donald Trump has been pushing for a complete overhaul of the 25-year-old continental trade deal, which he says has been a "rip-off" for the United States.

The Trump administration is expected to release the text of its trade agreement with Mexico as early as Friday, launching a contentious congressional approval process as it tries to coax Canada into a revamped North American Free Trade Agreement.

The two nations are now working to avoid a fight that could jeopardize $500 billion in annual trade, according to the tweet.

The U.S. has suggested it will forge a new NAFTA deal with just Mexico if it fails to reach an accord with its northern neighbor. "I think leaving Canada out of a new deal amounts to the Trump administration surrendering on fixing NAFTA".

Canada also wants to keep a NAFTA dispute-resolution process that the US wants to jettison. According to The Wall Street Journal, the dispute between US and Canada hinges on agricultural and media protection policies, as well as the installation of a system that would allow any of the three countries in the agreement to challenge tariffs imposed by one of the others.

Trump also said at the news conference, "If Canada doesn't make a deal with us, we're going to make a much better deal.

They have to be fair", Trump said on Saturday during a rally in Wheeling, West Virginia, complaining about Canada's dairy tariffs, which have been a particularly sore point for him.

The White House under US trade law has to publish the text 60 days before the president can sign the agreement, which then goes to Congress for approval. "And that's where things stand". Canada's demands for protection from US tariff measures is one of the last sticking points in negotiations, some of the people said.




Sources familiar with the talks told Reuters on September 11 that Canada was ready to give the United States limited dairy access.

Lopez Obrador, widely known as 'AMLO, ' said he had spoken by phone Thursday with Trudeau.

The prime minister, the foreign affairs minister, and Canada's ambassador to the USA are leading the Canadian negotiations from Ottawa, as the US and Mexican imposed deadline of September 30 at midnight closes in. The U.S. president stayed seated as he extended his hand for a cursory handshake.

Trump has already imposed tariffs on Canadian aluminum and steel, citing national security, and is threatening similar punitive measures against auto exports.

Auto tariffs would substantially impact Canada, a major auto exporter. In 2004, the Dominican Republic signed a Central American trade deal three months after the USA and several of its neighbors signed.

Ujczo said while Canada would rather have tariff protection spelled out when the deal is announced, he expects that as a compromise, all three countries will say they plan to meet again in the near future to hammer out the details of a detente on the tariff threat. The 1994 pact underpins $1.2 trillion in annual trade and its demise would be enormously damaging, say economists.

The three nations' auto industries are highly integrated, and tariffs on Canadian-built cars would be hugely disruptive.

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