Mexico readies for worst as 4th round of NAFTA talks open

Mexico readies for worst as 4th round of NAFTA talks open

President Trump welcomed Canadian Prime Minister Justin Trudeau to the White House Wednesday as round four of NAFTA negotiations are underway on the other side of town. The U.S. president tells reporters it's a "tough negotiation". "Otherwise, I believe you can't negotiate a good deal", Trump said in the Forbes interview. "Two countries that are interwoven in our economies and our cultures and our peoples", Trudeau said. The U.S.is expected to detail a proposal for the auto sector that would raise the minimum content requirement for parts sourced in the Nafta region and in the U.S. specifically.

Trudeau wouldn't say Wednesday at what point Canada might be prepared to walk away, if ever.

Asked about Trump's comments at a news conference later, Trudeau said he was still optimistic about the chances of modernizing the 1994 trade pact.

He also said in response to a question that he would consider a pact with Canada minus Mexico.

"An abrupt exit from NAFTA would be more of a loss for USA exporters than for Mexican ones", he said. Last week, Washington imposed hefty duties on Canadian-owned Bombadier airplane imports; the levies have made it virtually impossible for the firm to sell its planes in the USA market.

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"The U.S. business community will stand up for an important agreement that makes North America stronger and more prosperous", Donohue said at a speech in Mexico City on Tuesday. The US is expected to propose substantially raising the regional requirement, from 62.5% now, and potentially add a US-specific content requirement. In addition, the United States wants to add a new 50-percent USA -specific content requirement, something that was not in the earlier agreements. "I think it's just a bridge too far", said Wendy Cutler, the Asia Society'sWashington policy director and former chief US negotiator for the Trans-Pacific Partnership trade deal canceled by Trump. It's time after all of these years and we'll see what happens.

Nafta talks, initially scheduled to run from October 11 to October 15 in Washington, may now be extended.

Trump told Forbes, in an interview published Tuesday, he thinks Nafta will have to be terminated-as signals mount the U.S.is putting potentially deal-breaking proposals on the table and as the top US business group sounds the alarm.

U.S. Trade Representative Robert Lighthizer said on Wednesday the three nations had completed their negotiations on company competition policy, reaching an agreement that goes beyond previous U.S. trade deals to ensure "certain rights and transparency under each nation's competition laws".

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