Donald Trump trying to get Mexican president on phone is comedy gold

Donald Trump trying to get Mexican president on phone is comedy gold

Canadian stocks and the dollar were up late on Monday, with shares of Canadian auto parts makers like Magna International and Linamar among those to rise sharply. Those two facts collided this afternoon during a press spray in the Oval Office when Trump tried to put Mexican President Enrique Peña Nieto on speakerphone while announcing a new trade deal between the us and Mexico.

Investors are betting on a deal materializing soon between Canada and the US, according to analysts, who say the Canadian market will follow its number one trading partner higher, despite the hurdles facing an agreement. But Trump has called the agreement "the worst deal maybe ever signed" and moved ahead with tariffs earlier this year.

He said he should file final documents on August 31.

It would be hard to imagine Congress approving anything that did not include Canada, the nation's third largest trading partner behind the European Union and China.

"They used to call it NAFTA".

That comment came shortly after U.S. Commerce Secretary Wilbur Ross and Larry Kudlow, the director of the president's National Economic Council, said in separate interviews that concessions from Canada on dairy are essential to getting a three-way deal by Friday.

Negotiations on rewriting the three-country NAFTA agreement began about a year ago. Rona Ambrose, who once led the Conservatives after Trudeau's election in 2015, urged him to dig in on the issue.

Asian markets welcomed the deal on Tuesday, with Tokyo 0.6 percent higher, Hong Kong up 0.5 percent and Shanghai rising 0.2 percent. Lighthizer and Mexican Economy Minister Ildefonso Guarjardo said.

It would also require that 40 percent to 45 percent be made by workers earning at least US$16.

The provision is created to discourage carmakers to move jobs to lower-wage Mexico. Mexico's hourly average factory wages are less than $3 per hour compared to Canada's C$25 ($19.28). While nothing is official, it appears the proposed agreement will require vehicles built in Mexico to use more North American-sourced components to achieve duty-free status.

Tottenham rout Man United to pile pressure on Jose Mourinho
Manchester United have even put forward a new five-year contract to Martial's representatives and discussions are ongoing. Mourinho's audience was only thinking of the here and now, but the United manager was harking back to the past.

That's why the North American Free Trade Agreement has been good for Basta Boatlifts. But the agreement itself will mean little without Canada or congressional approval. That plan was vehemently opposed by Mexico, Canada and the auto industry.

The U.S. -Mexico partial deal puts new pressure on Canada, but the country is not without leverage.

One is the Trump administration's demand for the removal of arbitration panels that now settle disputes under NAFTA. Canada wants to keep them and Lighthizer wants to bin them.

Mexico, its top officials said with visible relief, had made it through the other side. And there is likely one reason for that; China!

He added that there is also agreement on stronger labor/environment chapters, which "Canada will be fine with".

However, all this remains in doubt as a key NAFTA signatory, Canada, is yet to agree on the terms.

"There are still a lot of questions left to be answered", MacKay said. The Mexican government went on to express their desire for Canada to rejoin the negotiation process with the hopes of "concluding a trilateral negotiation this week".

Basta said it's important to have good relationships with other countries on the continent.

"We are hopeful that any changes are fair and balanced". "Both NZ and Australia are far more leveraged to that story and while the PBoC is perhaps taking a more conciliatory tone here, visible progress on trade between the USA and China is yet to be seen".

Related Articles

  • Trump announces trade pact with Mexico

    Trump announces trade pact with Mexico

    On the S&P 500, Goodyear Tire & Rubber and General Motors were among the index's biggest gainers - both up more than 4 percent. Canada is also facing a limited window to express concerns or fight for changes in the new deal.
    Tesla's U-turn puts it back at square one on cash

    Tesla's U-turn puts it back at square one on cash

    Musk himself said in an interview that he is using sleeping drugs and working 120-hour weeks to boost production at Tesla. Maybe someday the SEC will allow everyone to own tokenized stock of companies-whether they're public or private.
    Pope silent over claims he covered up sex abuse scandal

    Pope silent over claims he covered up sex abuse scandal

    This is the first papal visit to Ireland since John Paul II spoke in front of 1.5 million people during a visit in 1979. He also said he was particularly moved by the plight of unmarried girls forced to give up their children for adoption.
  • Liverpool goalkeeper Alisson vows to carry on dribbling in Premier League

    Liverpool goalkeeper Alisson vows to carry on dribbling in Premier League

    However, he is yet to feature for the Reds, with Fabinho saying that he needs more time to adjust to Liverpool's style of play. The Reds have won all three league games so far and are at the top of the league, with all three clean sheets.
    Mourinho demands respect in presser after Man U loss

    Mourinho demands respect in presser after Man U loss

    A team doesn't fight the way they fought...the boys don't give everything like they gave if the team is not united". The 55-year-old was not visibly grumpy, he was not angry, and he was not incendiary.
    Apple to expand iPhone X design with new colours, big screens

    Apple to expand iPhone X design with new colours, big screens

    The new iPad Pro may come in 11-inch and 12.9-inch versions, says Bloomberg , but Apple reportedly won't release any other iPads . Its lower price will be achieved by using an LCD screen instead of AMOLED, and an aluminum frame instead of stainless steel.
  • Louis C.K. Performs First Stand-Up Set Since Harassment Allegations

    Louis C.K. Performs First Stand-Up Set Since Harassment Allegations

    He said that one man who was in the audience called the club on Monday to complain about the comedian's surprise appearance. He made an unannounced appearance Sunday night at the Comedy Cellar in New York City's Greenwich Village.
    Preliminary U.S.-Mexico trade deal leaves trail of uncertainty

    Preliminary U.S.-Mexico trade deal leaves trail of uncertainty

    But Trump suggested she would have to agree to terms fast, or he'll simply slap tariffs on Canadian auto exports to the U.S. It's not clear Congress would accept a deal without Canadian participation.
    What we know about Jacksonville shooting suspect David Katz

    What we know about Jacksonville shooting suspect David Katz

    The Jacksonville Sheriff's Office reports the suspected gunman killed four people and wounded several others . The shooting happened at a qualifying event for a Madden NFL19 video gaming tournament at the GLHF Game Bar.
  • Trump praises Tiger Woods for urging respect for presidency

    Trump praises Tiger Woods for urging respect for presidency

    Justin Thomas, who won last year's US$10 million bonus as the FedExCup champion , carded a two-under 69. Koepka knows all about confidence with two major trophies sitting at home in Florida.
    UK PM May Meets and Dances with School Children in South Africa

    UK PM May Meets and Dances with School Children in South Africa

    Mrs May said Britain's private sector should put in the billions that will see "African economies growing by trillions". May, alongside 29 representatives from United Kingdom business, will also visit to victims of modern slavery in Lagos.
    Obama, George Bush Mourn John McCain

    Obama, George Bush Mourn John McCain

    Tsai described McCain as a man who "never backed down from his beliefs & forever strived for a more peaceful & prosperous world". McCain was a frequent critic of President Donald Trump on everything from his leadership style to his Russian Federation policy.