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

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

Prime Minister Justin Trudeau had a "constructive conversation" with Mr. Trump on the progress with Mexico, the prime minister's office said. Canada and the US have been at odds over trade in recent months.

US economic data - with consumer confidence figures due later in the day and the latest estimate for second-quarter gross domestic product expected on Wednesday - could determine the dollar's further moves.

At a morning press conference, Trump called it a "a big day for trade".

"Canada shouldn't have a problem signing on to this", Ashworth said.

Mexico has agreed to immediately begin purchasing as many agricultural products from the United States as possible, according to Trump.

If talks with Canada are not wrapped up by the end of this week, Mr Trump plans to notify Congress that he has reached a deal with Mexico, but would be open to Canada joining, US Trade Representative Robert Lighthizer told reporters. "The only things we know for sure, content has to come within the NAFTA region".

The deal does not include the sunset clause President Trump had proposed, which would have ended the new agreement after five years, unless all countries explicitly agreed to extend it.

Mexican President Enrique Peña Nieto was on speakerphone and says he hopes NAFTA partner Canada will eventually be incorporated into the deal. Alternatively, the White House could just ship the new Mexico deal to Congress-but then lawmakers would be able to substantially rewrite the pact, which could scuttle all the agreements already reached with Mexico.

Sacha Baron Cohen attempts to coax murder confession from O.J. Simpson
He appears to be completely duped. "She knows that, oh Jesus", Simpson said, as he laughed and shook his head. Monaldo then jokes that he and Simpson are "lady killers", to which the disgraced athlete laughs.

Republicans in Congress, who are typically supporters of free trade, have pressed the White House to strike a deal, arguing that the relationship has benefited USA farmers and other groups.

In May, the United States imposed steep tariffs on steel and aluminum from much of the world, including Mexico.

"But what he went on to describe seemed like more of a rebrand than a revolution", says Krishnadev Calamur at The Atlantic, and the end result will likely be "some tweaks to the existing agreement". "These rumored trade provisions would codify the administration's savage attacks on environmental protection, food safety, and consumer rights into trade deals that enshrine and globalize deregulation, making it harder to restore US environmental and consumer protections once this administration is shown the White House door". The administration's fact sheet about the deal described it as "modernising Nafta" and an "update to the 24-year-old Nafta", a nod to the fact that numerous trade agreement's provisions remain in place.

Promising that Canada would "continue to work toward a modernized NAFTA", a spokesman for the Canadian foreign minister said that, "We will only sign a new NAFTA that is good for Canada and good for the middle class". 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. Once they reach an agreement, the third country in NAFTA - Canada - would be brought back in to finalize a revamp of the 24-year-old pact.

It's not clear Congress would accept a deal without Canadian participation. Two-way trade between the United States and Canada, at $673 billion a year ago, is larger than that between the United States and Mexico, which came to $616 billion.

Monday's agreement comes after officials from Washington and Beijing held talks last week aimed at easing trade tensions that have seen them hit each other with tariffs on tens of billions of dollars worth of goods.

To qualify for zero tariffs under Nafta, vehicle companies would be required to manufacture at least 75 percent of an automobile's value in North America under the new rules, up from 62.5 percent previously.

"Companies have no idea what the level of tariffs will be, if we will have free trade or a complete breakdown", Levy said.

Related Articles

  • Senator John McCain Dies At 81 After Battle With Brain Cancer

    Senator John McCain Dies At 81 After Battle With Brain Cancer

    John McCain was a giant of our time-not just for the things he achieved, but for who he was and what he fought for all his life. Ted Kennedy of MA died in 2009, President Barack Obama ordered flags at the White House be flown at half-staff for five days.
    Red Bull found the pilot to replace Daniel ricciardo

    Red Bull found the pilot to replace Daniel ricciardo

    I never said it was 100 percent going to be with Red Bull . "But it was the best I could do so I called Christian (Horner )". It was a very odd situation anyhow", stated Marko while speaking to Austrian broadcaster Servus TV .
    John McCain, Republican Senator and Vietnam Hero, Dies

    John McCain, Republican Senator and Vietnam Hero, Dies

    McCain was a frequent critic of President Donald Trump on everything from his leadership style to his Russian Federation policy. Bush , and in 2008, he ran again, this time winning his party's nomination. "I like people that weren't captured", Trump said.
  • 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.
    Kaia Kanepi shocks Simona Halep

    Kaia Kanepi shocks Simona Halep

    Simona Halep of Romania smashes her racket on the ground during her loss to Kaia Kanepi of Estonia on day one of the 2018 U.S. Halep recovered and it appeared a comeback was on when she broke Kanepi to love to level the second set at 4-4.
    Meghan Markle and Prince Harry welcome new member to Royal family

    Meghan Markle and Prince Harry welcome new member to Royal family

    The puppy, whose name is unknown, joins Meghan's beagle, Guy , in the family's home, Nottingham Cottage, at Kensington Palace. During their engagement interview , he shared a story about how the Queen's famous corgis reacted to Meghan .
  • World leaders salute John McCain as a 'true American hero'

    World leaders salute John McCain as a 'true American hero'

    Trump tweeted that his "deepest sympathies and respect" went out to McCain's family. " John McCain was a committed leader". John McCain who was held as prisoner of war in Vietnam and later was instrumental in bringing the wartime foes together.
    Girona pay penalty as Real come from behind

    Girona pay penalty as Real come from behind

    The Belgium worldwide , who had always been the Blues No.1 goalkeeper has been relegated to the bench at Real Madrid . The Belgian goalkeeper swapped Premier League side Chelsea for the European champions in a recent £35m deal.
    Beyoncé & Jay Z's Concert Ends In Chaos As Fan Rushes Onstage

    Beyoncé & Jay Z's Concert Ends In Chaos As Fan Rushes Onstage

    It said: "At this point we had a controlled evacuation of all crew on the stage in order to safely diffuse the situation".
  • Tottenham rout Man United to pile pressure on Jose Mourinho

    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.
    Odell Beckham Jr. agrees to record deal with Giants

    Odell Beckham Jr. agrees to record deal with Giants

    Beckham, who has been working for a new deal for most of the past two seasons, is now under contract through 2023. It's apparently not just fans, paparazzi and burned defenders who know what it's like to follow Odell Beckham .
    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.