Canada, U.S. reach deal to save NAFTA as trilateral trade pact The Saigon Times Daily Chevrolet Equinox SUVs are parked awaiting shipment by CN Rail next to the General Motors Co (GM) CAMI assembly plant in Ingersoll, Ontario, Canada October 13, 2017 – PHOTO: REUTERS OTTAWA/WASHINGTON (REUTERS) - The United States and Canada reached a deal on Sunday to salvage NAFTA as a trilateral pact with Mexico, beating a midnight deadline with agreements to substantially boost American access to Canada’s dairy market and protect Canada from possible U.S. auto tariffs, sources with direct knowledge of the talks said. President Donald Trump had threatened to splinter the nearly 25-year-old North American Free Trade Agreement into a bilateral pact with Mexico and tax Canadian vehicle exports to the United States if Ottawa had failed to sign on before a midnight Sunday deadline (04:00 GMT Monday). But Trump has approved the “framework” deal with Canada, a source … [Read more...] about Canada, U.S. reach deal to save NAFTA as trilateral trade pact
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Canada ready to allow U.S. dairy access in NAFTA talks: sourcesThe Saigon Times Daily Canadian Foreign Minister Chrystia Freeland takes part in a news conference at the Embassy of Canada in Washington, U.S., August 31, 2018 – PHOTO: REUTERS OTTAWA/WASHINGTON (REUTERS) - Canada is ready to offer the United States limited access to the Canadian dairy market as a concession in negotiations to rework the North American Free Trade Agreement, two Canadian sources with direct knowledge of Ottawa’s negotiating strategy said on Tuesday. U.S. President Donald Trump said at the White House that trade talks with Canada were going well and that Ottawa wants to make a deal. Chrystia Freeland, Canada’s foreign minister, returned to Washington on Tuesday for talks with U.S. Trade Representative Robert Lighthizer. Canada’s protected dairy industry is one of three sticking points in NAFTA talks between the two countries, along with a system for settling trade disputes … [Read more...] about Canada ready to allow U.S. dairy access in NAFTA talks: sources
Venezuela on Saturday accused the United States of using new sanctions against its government’s top officials to sabotage a controversial presidential election on Sunday, which the country’s opposition says has been rigged. The U.S. ramped up pressure on President Nicolas Maduro’s government on Friday, accusing him of profiting from illegal narcotics shipments and imposing sanctions against the No. 2 official in the ruling Socialist Party, Diosdado Cabello. The United States has already imposed sanctions against Maduro for human rights abuses and blamed him for Venezuela’s current economic and political crises. But Friday marked the first time that Washington publicly linked Maduro to the drug trade. In a statement, Maduro’s government called the sanctions part of “a systematic campaign of aggression” by President Donald Trump’s administration and said they had no legal base. “It’s not surprising that on the eve of a new vote, … [Read more...] about Venezuela accuses U.S. of sabotaging election with new sanctions
Mnuchin said that the Trump administration is now focusing on talks to renegotiate the North American Free Trade Agreement (NAFTA) and that it would be "a bit premature" to review details of what needs to be addressed for the U.S. to reconsider joining the CPTPP. "But as we accomplish our goals on these other trading relationships, this (CPTPP) is definitely something that we'll consider, and Chile will be a big partner of ours in that at the right time," he said at a press conference following a two-day meeting of G-20 officials in Argentina. U.S. Treasury Secretary Steven T. Mnuchin in a joint press conference at La Moneda presidential palace in Santiago, Chile. Photo: abcnews.go.com President Donald Trump withdrew the U.S. from the Trans-Pacific Partnership (TPP) Agreement last year, but the remaining 11 members – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam - pressed ahead and signed the renegotiated pact … [Read more...] about U.S. to consider rejoining CPTPP after other priorities
SANTIAGO - Eleven countries including Vietnam, Japan and Canada signed a landmark Asia-Pacific trade agreement without the United States on Thursday in what one minister called a powerful signal against protectionism and trade wars. The deal came as U.S. President Donald Trump vowed earlier in the day to press ahead with a plan to impose tariffs on steel and aluminum imports, a move that other nations and the International Monetary Fund said could start a global trade war. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will reduce tariffs in countries that together amount to more than 13 percent of the global economy - a total of $10 trillion in gross domestic product. With the United States, it would have represented 40 percent. “Today, we can proudly conclude this process, sending a strong message to the international community that open markets, economic integration and international cooperation are the best tools for creating economic … [Read more...] about Asia-Pacific nations sign sweeping trade deal without U.S.