Trump and Trudeau agree on a revised NAFTA deal

Trump and Trudeau agree on a revised NAFTA deal

Mexican officials hailed a new North American trade accord Sunday as the U.S. and Canada announced they had reached an agreement to keep a three-country deal and rename the 24-year-old NAFTA.

Washington has already reached a trade agreement with Mexico and President Donald Trump has repeatedly said he would go ahead with the revamped deal, with or without Canada. The U.S. reached an agreement-in-principle with Mexico in late August and wants it approved before the Mexican President Enrique Peña Nieto leaves office November 30.

"USMCA will give our workers, farmers, ranchers, and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region". The pact underpins some $1.2 trillion in annual trade.

Ultimately, Ujczo said he expects Canada and the reach a so-called "side letter" to the main deal that would resemble a similar agreement reached last month between Mexico and the USA which preserves duty-free access to the US market for vehicles that comply with the agreement's rules of origin. "The United States can not come to the game and bring their own umpire calling balls and strikes ... especially when we see that Trump is so capable of arbitrary behaviour", he said, noting that the U.S President has already cited what Mr. McKenna called "laughable" security issues as rationale for recent tariffs.

The US Chamber of Commerce has said it would be "unacceptable to sideline Canada, our largest export market in the world".

More news: Rescue mission underway after plane crashes into lagoon in Micronesia

Pierre Lampron, president of Dairy Farmers of Canada, said in a statement.

Additionally, Mexico will get an auto parts quota of $108 billion annually, while Canada will get a parts quota of $32.4 billion annually in the event of USA autos tariffs.

A side-letter to the agreement showed that Trump preserved the ability to impose threatened 25 percent global tariffs on autos while largely exempting passenger vehicles, pickup trucks and auto parts from Canada and Mexico.

The deal represents a win for Trump, who has derided Nafta for years and threatened to pull the USA from the pact if it was not rewritten in Washington's favour.

United States farmers will have access to about 3.5% of Canada's dairy market, Reuters reported, citing sources.

More news: Facebook announces Oculus Quest, its first all-in-one VR gaming system

Since talks began more than a year ago, it was clear Canada and Mexico would have to make concessions in the face of Trump's threats to tear up NAFTA and relief was palpable in both countries on Sunday that the deal was largely intact and had not fractured supply chains between weaker bilateral agreements.

"Lots of progress, but we're not there yet", MacNaughton told reporters.

A bulk of Canada's efforts this weekend have been focused on securing an exemption to the Section 232 tariffs - especially dealing with autos - which allow President Donald Trump to slap duties on foreign products in the name of national security, a source with direct knowledge of the talks confirmed.

At an investment conference hosted by TD Asset Management in mid-September, Mr. McKenna argued that Canada must stand its ground on the Chapter 19 dispute resolution mechanism. "We're going to call it the US-Mexico Trade Agreement". Trudeau said he would have more to say Monday. While TPA gives Trump the ability to send a deal to Congress for a simple majority vote, it also includes a statutory 60-day notification period.

Canada, the US' second largest trade partner, was excluded from a revamped NAFTA deal separately negotiated between Mexico and the U.S. in August after nearly a year of negotiations. Trump wanted Canada to open its dairy market to USA farmers, and Canada wanted to preserve a mechanism for resolving disputes.

More news: French ship rescues injured Indian sailor on solo yacht race

Related News:

  • Who is Rachel Mitchell?

    Who is Rachel Mitchell?

    He added, "I'm very appreciative that Rachel Mitchell has stepped forward to serve in this important and serious role". Kavanaugh denies the accusations and those of two other women who came forward to allege separate incidents.
    Jewish woman accuses Kavanaugh of sexual misconduct in high school

    Jewish woman accuses Kavanaugh of sexual misconduct in high school

    But he moved beyond simple denials to going on offense, accusing Democrats of targeting him to assuage political grudges. His testimony will follow Ford's, which, depending on how persuasive she is, could weaken his ability to defend himself.
    Trump blasts Iran, China in fiery UN Security Council meeting

    Trump blasts Iran, China in fiery UN Security Council meeting

    It came after the commander in chief said the American economy is booming like never before. "They're denuclearising North Korea". Trump tweeted: "despite requests, I have no plans to meet Iranian President Hassan Rouhani ".
  • Actor Lindsay Lohan Gets 'Punched' After Accusing Family of Human Trafficking

    Actor Lindsay Lohan Gets 'Punched' After Accusing Family of Human Trafficking

    The videos posted prior to this one show Lohan on the streets of Moscow, so it appears that this video has also been filmed there. Her suggestion came after she remarked to the family the children should not be "on the floor". "I won't leave until I take you".
    Russian Federation  missile sale to Syria is 'significant escalation' - U.S.' Bolton

    Russian Federation missile sale to Syria is 'significant escalation' - U.S.' Bolton

    He stressed that "the aggression on Syria is an aggression on the forces that fight against terrorism in Syria". The S-300 is a relatively modern system capable of engaging targets at the range of up to 250 km.
    GOP Senator Regrets that Judiciary Committee Hired Outside Counsel

    GOP Senator Regrets that Judiciary Committee Hired Outside Counsel

    Ford testified that, since she came forward, no one has told her that they drove her to or from this party. Senators like Sheldon Whitehouse and Mazie Hirono used their time to listen to themselves blathering.
  • White House: President Trump Didn't Set Limits on FBI Kavanaugh Probe

    White House: President Trump Didn't Set Limits on FBI Kavanaugh Probe

    Judge has said in written statements that he does not recall the incident; Senate Republicans declined to call him to testify. In dueling appearances last Thursday, he and Ford told their stories during sworn testimony before the Judiciary Committee.
    Meghan Markle Performs First Solo Royal Engagement Without Prince Harry

    Meghan Markle Performs First Solo Royal Engagement Without Prince Harry

    Meanwhile, The Sun's royal correspondent Emily Andrews tweeted: "A princess who still takes the time to shut her auto door". Victoria Arbiter, 9Honey's royal commentator , perhaps summed it up best in her exasperated tweet.
    Trump says he would have pushed Kavanaugh through

    Trump says he would have pushed Kavanaugh through

    Trump said he was "OK with that", but again defended Kavanaugh as a "gem" and said that Democrats are treating him unfairly. The first woman to come forward with allegations against Mr Kavanaugh was psychology professor Christine Blasey Ford .
  • Woods wins Tour Championship, ending five-year drought

    Woods wins Tour Championship, ending five-year drought

    He didn't disappoint - going on to claim one of his most memorable victories and his first trophy after his four back surgeries. The 42-year-old is up to 13th, rising eight places care of his dramatic Tour Championship success at East Lake GC on Sunday.
    ‘X-Men: Dark Phoenix’ Trailer

    ‘X-Men: Dark Phoenix’ Trailer

    During a rescue mission in space, Jean Grey ( Sophie Turner ) is almost killed when she is hit by a mysterious cosmic force. It will simply be called " Dark Phoenix ", according to a new poster for the movie and Fox's official synopsis .
    'Sexually violent predator' Cosby to spend at least three years in jail

    'Sexually violent predator' Cosby to spend at least three years in jail

    Green, Cosby's attorney, asked for a sentence of house arrest and said that Cosby was not a danger to anyone. Cosby became the first black actor to star in a prime-time TV show, I Spy , in 1965.

Most liked

Indonesian Earthquake And Tsunami Kill At Least 380; Injure Hundreds More
People survey the damage following earthquakes and tsunami in Palu , Central Sulawesi, Indonesia, Sunday, Sept. 30, 2018. Save The Children programme director Tom Howells said access was a "huge issue" hampering relief efforts.

Cowardly Indian attack on AJK PM
The state premier said the people of Jammu and Kashmir will act as a front line for the defence of every inch of Pakistan and AJK. A video of the same was also released and widely circulated on social media platforms.

Banter early, pressure late in Ryder Cup
Compare that to what the PGA TOUR provided for Hazeltine back in 2016, their grandstand for the first tee only seated 1,668 fans. They got together for the first time Monday night and laughed through a 10-minute video of Irish impressionist Conor Moore.

Sturridge's Stunning Goal Leaves Rüdiger Lost For Words
Substitute Daniel Sturridge scored a stunning equaliser a minute from time as Liverpool snatched a dramatic draw at Chelsea in the Premier League.

ABC chair quits amid political meddling allegations
He is alleged to have lobbied for the sacking of two senior journalists whose reports were critical of the government. The ABC board met yesterday morning without Mr Milne and asked him to step aside, but he resigned instead.

Trump already claiming China meddling in 2018 midterm elections
Last week, he accused China of trying to sway the upcoming US midterm elections by targeting voters who supported him in 2016. The new tariffs covered products such as food seasonings, baseball gloves, network routers and industrial machinery parts.

7.5 magnitude quake triggers tsunami in Indonesia, kills dozens
Nina, a 23-year-old woman who goes by one name, was working at a laundry service shop not far from the beach when the quake hit. In Palu - home to 350,000 people - partially covered bodies lay near the shore after waves hit the coast Friday.

Iran says it doesn't want war with the US
President Trump addresses the 73rd session of the General Assembly at the United Nations in NY on September 25, 2018. The next round of sanctions go into effect November 5, limiting Iran's crude oil exports.

Christine Blasey Ford and Brett Kavanaugh hearing: What we learned
Mr Kavanaugh's testimony will nearly certainly deepen the partisan divides already tearing the nation apart. She said she watched the testimony during the Clarence Thomas confirmation hearings 27 years ago.

Here are the three women making accusations against Brett Kavanaugh
Kavanaugh called Swetnick's allegations "ridiculous" in a statement released by the White House on Wednesday. She described gang rapes she said occurred in which boys would line up to rape incapacitated girls.

Fortnite Season 6 Brings Adorable Pets
Impulse grenades, the silenced submachine gun, the light machine gun, bouncer pads, and remote explosives have all been vaulted. Join in on the Cram Session mini-event in Save the World and learn more about a new enemy that has appeared from the Storm.

Martial, Bailly, Pereira join Pogba to rebel against Mourinho
Paul Pogba's agent, Mino Raiola, is set to meet Manchester United officials in November to discuss the midfielder's future. Luke Shaw has been another player who has a fragile relationship with Mourinho despite his return to first team action.

Donald Trump Literally Laughed At By World Leaders During United Nations Speech
Trump's trade practices portray an unabashed mercantilism, which, ironically, mirrors the behavior he wishes to punish China for. The drastic difference between those two figures represents the impact of US President Donald Trump's policies towards Iran .

GOP lines up Kavanaugh vote plan as showdown hearing nears
She has acknowledged that there were "significant gaps" in her memory of that party. There was no immediate response by the committee to the AP's request for comment.

Second North Korea summit 'quite soon'
Alireza Miryousefi, Spokesman for Iran's United Nations mission, told newsmen that Iran has not requested a meeting with Trump. President Donald Trump is pictured speaking during his meeting with Colombian President Iván Duque at the United Nations .