Canada welcomes Trump's 'flexible' timetable for NAFTA deal

Pauline Gross
January 14, 2018

Canadian government officials say there's an increasing likelihood that USA will give six-months' notice to withdraw from.

"They can pay for it indirectly through NAFTA", Trump told the Journal. The Canadian loonie fell along with Mexico's peso and yields on Canada's government bonds.

The Canadian government is standing firm in its aggressive action against what it calls unfair American trade practices, saying Thursday that such tactics will earn respect from the administration of U.S. President Donald Trump.

His comments were made a day after Canada filed with the World Trade Organization (WTO) almost 200 complaints that Americans breeched global trade rules. U.S. Trade Representative Robert Lighthizer responded earlier Wednesday, calling that move a "broad and ill-advised attack".

Trump has repeatedly threatened to walk away from NAFTA unless Canada and Mexico agree to major changes Washington says are needed to make the 1994 treaty more fair.

A sixth round of negotiations will begin this month in Montreal.

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"They can pay for it indirectly through NAFTA", Trump explained, adding "we make a good deal on NAFTA, and, say, I'm going to take a small percentage of that money and it's going toward the wall".

The next round of talks on reworking the 24-year-old trade agreement is due to take place in Montreal later this month.

The Canadian dollar fell to its weakest level this year at C$1.2561 to the greenback, or 79.61 US cents.

But while Champagne was talking tough, Freeland said she remains hopeful a new NAFTA deal beneficial to all three countries can be reached.

Mexican Economy Minister Ildefonso Guajardo has said that Mexico won't negotiate under duress and will leave the table if the United States initiates the withdrawal process.

Other reports by GizPress

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