Canada says some progress made in NAFTA talks. US signal Monday to be key

Author: Adam Button | Category: News

Talks to continue through Monday

Canadian NAFTA chief negotiator Steve Verheul told Reuters on Saturday that some progress has been made and he's hopeful the process will continue.

However several major issues are unresolved with talks due to finish on Monday.

There are no further talks scheduled after this round, which is in Montreal, but Verheul was asked about more talks, tentatively scheduled for the week of Feb 26 and said "well, that's our hope."

"I think we have demonstrated we have engaged on most of the big issues," Verheul said in the report. "We've made progress on some of the smaller ones, so I think (it was) not a bad week."

A separate Canadian government source cited by Reuters said Ottawa was cautiously optimistic about the round, given that the U.S. side had not summarily rejected the proposals for compromise.

However they said they are waiting for Lighthizer's reaction on Monday. For the FX market, that's going to be a critical headline to start the week.

Join the discussion in our new Telegram group, where I talk about a Canadian dollar trade idea for the week ahead.

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