Canada on NAFTA: US, Canada and Mexico have made fairly limited progress

Author: Greg Michalowski | Category: News

Comments chief NAFTA negotiator Verheul speaking in Ottawa

  • Quite close to completing some chapters such as customs, telecommunications
  • Has seen limited US flexibility on even some of the easier issues, this is being driven from the top
  • Reiterates Canada concern that US auto content proposal would drive production offshore
  • Says is no point to US proposal to set up nonbinding dispute settlement panels
  • US procurement offer is worst offer ever made by US in a trade negotiation
  • Will continue to put forward creative proposals to find common ground on US proposals
  • There are large gaps between what Canada and US want to achieve on key files
  • US team has made clear it wants concessions to benefit US economy, says Canada wants to improve the treaty
  • Says conscience says US could initiate process to pull out of NAFTA.  Canada is ready for that.
  • This is not the kind of negotiations we are used to
  • Canada will stay at table as long as there is a chance of achieving a good solution
  • Negotiator says hasn't given up on hope of crafting a treaty to benefit all 3 NAFTA members

The USDCAD has moved back higher on the headlines. 

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