• News
  • Money

Would Trump’s 20% auto tariff be Canada’s ’ruination’? We assess the damage

Would Trump’s 20% auto tariff be Canada’s ’ruination’? We assess the damage

In return for concessions on dairy, Canada could request USA concessions on the so-called Chapter 19 dispute resolution mechanism that allows Canada to combat us anti-dumping duties that Ottawa regards as unjustified.

Former federal Canadian trade official Matthew Kronby said the reported American demands indicate to him that the White House doesn't really want to strike a deal with Canada.

USA officials say time is running out to reach a deal that the current Congress can vote on.

The US and Canada met for most of last week without reaching a resolution.

"We are better off having no NAFTA than a bad deal for Canada", Trudeau told reporters on Tuesday, stressing that he would defend the country's dairy industry.

With so much uncertainty, Freeland and Prime Minister Justin Trudeau have regularly been dogged by questions about the fate of NAFTA.

"The atmosphere continues to be cordial, there continues to be goodwill on both sides", said Freeland, who said she made sure the significance of Tuesday's date was not lost on her American counterpart, U.S. Trade Representative Robert Lighthizer.

Trump has raised pressure on Ottawa, threatening to impose duties on Canadian auto imports, which Trudeau said would be "devastating" for the Canadian auto sector.

US President Donald Trump also said the talks, which both countries intensified in recent weeks, were coming along well. A bilateral deal announced by the United States and Mexico on Monday was a breakthrough that infused renewed optimism around a new NAFTA.

A Canadian source with knowledge of the NAFTA discussions says an agreement is within reach, but getting there will require flexibility from all sides.

"Without Chapter 19, NAFTA is utterly useless as it would subject Canada and Mexico to the vagaries of the US political system and its courts when determining trade policy actions", said Derek Holt, vice-president at Scotiabank Economics, in a note recently.

"There is not going to be a deal - period - unless there is a compromise in that area because that is what he campaigned on and it's stuck to him and he's stuck with it", Mulroney said.

"It allowed them to export milk solids on the world market and below prices that cut into our opportunity for our dairy people to have access to that world market", Perdue said.

"We have all been dealing in good faith", he said.

"President, I recommend we accept this deal with Canada; it's not ideal, but it's a good deal, ' then I think he takes it,"' Mulroney said. "Canada wants to make a deal". "We're just going to stay working constructively to get to that win, win, win that we know is there", he said in the interview. "He's railed against this thing (NAFTA) and they've been at the negotiating table for now over a year".

Experts note that the desire to make a trade deal happen is influenced by upcoming political events, including the US midterm elections in November, a transition of presidential power in Mexico in December and next year's Canadian election.

Leave Your Comment

Leave Your Comment


Latest News

  • Kabasele urges Watford to stay grounded after fast start

    Kabasele urges Watford to stay grounded after fast start

    Watford join Liverpool and Chelsea with four wins from four, whilst Tottenham drop down to fifth after the loss. You need to show respect because to compete to win it is not easy.
    Woodward book goes on sale as ex-Trump aides push back

    Woodward book goes on sale as ex-Trump aides push back

    And with the release of Fear today , the coming days will likely only see even more revelations coming to the surface. The letter stated that the USA was planning to withdraw from a trade agreement with South Korea.
    Nike Sales Rise 31% In Days Following Kaepernick Ad Unveiling

    Nike Sales Rise 31% In Days Following Kaepernick Ad Unveiling

    Some fans responded to Kaepernick's sponsorship deal by cutting or burning gear with Nike's signature swoosh logo. The text on that image reads, "Believe in something, even if it means sacrificing someone else's everything".
  • Turkey's central bank hikes key interest rate to 24 percent

    Turkey's central bank hikes key interest rate to 24 percent

    Erdogan past year said the fund needed a "reorganisation" after the first chairman Mehmet Bostan was removed from his post in September 2017.
    Wind and rain from Florence's leading edge lash Carolinas - International

    Wind and rain from Florence's leading edge lash Carolinas - International

    And the storm surge , which could be as much as 12 feet in some areas, will be on top of sea level rise from climate change. Another, stronger high-pressure system to the north, forced Florence west and allowed it to head toward the Carolinas.
    Gunman kills five people before shooting himself in southern California rampage

    Gunman kills five people before shooting himself in southern California rampage

    According to police, a husband and wife had a confrontation with a man at the business when the husband shot and killed him. The suspect fired shots at this man, who fled. "What we know is we have six people dead, five victims and one suspect".
  • Nintendo’s new wireless NES controllers are a Switch Online exclusive

    Nintendo’s new wireless NES controllers are a Switch Online exclusive

    Ninty has provided more details on the whole account linking and unlinking here and here, so give it a read if you're a bit lost. Not all games will support this feature, but it's a relief to see Nintendo add a feature that should have been ready at launch.
    Tennis umpires considering boycotting Serena Williams matches

    Tennis umpires considering boycotting Serena Williams matches

    One suggestion being floated is to refuse any match assignments involving Williams until she apologizes for vilifying Ramos. That triggered a third violation, which resulted in a game penalty that gave Osaka a 5-3 lead.
    Nixon hopes for big upset in primary battle with Cuomo

    Nixon hopes for big upset in primary battle with Cuomo

    Andrew Cuomo (D) and his challenger from the left, Cynthia Nixon , as the Empire State heads to the polls for its primary vote. Cuomo has said that he had no knowledge of the mailer and said through a spokeswoman that the language was "inappropriate".
  • Drive Halo's Warthog in Forza Horizon 4

    Drive Halo's Warthog in Forza Horizon 4

    Several of the cars in the pack will feature film-inspired gadgets that players will be able to view while in Forzavista mode. In other words, it'll be winter for everyone at the same time, and this will open up new race routes in the speedy sandbox.
    Apple's $29 iPhone battery replacements will cost $69 after December

    Apple's $29 iPhone battery replacements will cost $69 after December

    The bigger question is whether you consider the iPhone XR's $750 a reasonable price for a new iPhone that isn't its top flagship. If you want a 2018 iPhone (and not the iPhone 8, 8 Plus or iPhone 7), you can keep a little more money in the bank.
    Russian Poisoning Suspects: We Were Just Tourists

    Russian Poisoning Suspects: We Were Just Tourists

    British police have said they believe both men are using aliases. "We got wet, took the nearest train and came back to London". An except of the full interview was shown on RT News on Thursday morning, and an additional transcript can be seen here .
  • Hurricane Florence Coverage From Around The State

    Hurricane Florence Coverage From Around The State

    Even miles away from the Atlantic, North Carolina residents in low-lying areas are boarding up and emptying stores. U.S. television networks said 7pm to 7am curfews had been put in place in several towns surrounding Myrtle Beach.

    Too many teens are using Juuls, according to the FDA

    The FDA point out that, despite lacking tobacco and plenty of the nasties present in normal cigarettes, nicotine itself is hardly a benign substance .
    How to watch Apple's 2018 iPhone keynote announcement - Stream, schedule, info

    How to watch Apple's 2018 iPhone keynote announcement - Stream, schedule, info

    The fourth generation of the watch sees a major revamp in its specifications and the most visible external design change to date. The XS and XS Max have dual 12-megapixel rear cameras and a dual 7-megapixel selfie camera - just like the iPhone X .
  • Millions prepare for potentially catastrophic Hurricane Florence

    Millions prepare for potentially catastrophic Hurricane Florence

    Storm surge could be as high as 6 to 12 feet from Cape Fear to Cape Lookout on North Carolina's southeast coast. Governors in the Carolinas and Virginia already had declared emergencies, and some sought federal aid as well.
    New iPhones to reach Qatar by Sept 28

    New iPhones to reach Qatar by Sept 28

    Apple's iPhone Xs next generation A12 Bionic SoC has been claimed by Apple's Phil Schiller to be the first on the market. It's something you have to see to really have a good feeling for it -and it's something you need to know before you buy.
    Tony Finau's Ryder Cup selection celebration dance

    Tony Finau's Ryder Cup selection celebration dance

    The US will try to defend the trophy when the biennial tournament gets underway at Le Golf National near Paris on September 28. It's an incredible achievement for Finau, who grew up playing golf in Rose Park.

Breaking News



Recommended

Jeff Bezos Pledges $2 Billion Toward Education and Homelessness

Amazon founder Jeff Bezos is to launch a $2bn (£1.53bn) fund to help homeless families and launch pre-schools in poor communities. Sawant is referring to the Seattle head tax that the Seattle City Council adopted and then repealed a month later .

President Weah makes surprise return to football against Super Eagles of Nigeria

After the game, Liberia retired jersey number 14, which was worn by Weah during his footballing peak. Weah was the victor of the 1995 Fifa Player of the Year for his exploits with Paris Saint-Germain.

From sick-note Serb to Grand Slam warrior

Nadal's challenge looked doomed even as early as the first set, as he was feeling the injury after just four games, he admitted. He was barking at himself, at his entourage, at a crowd vocally supporting his opponent, Juan Martin del Potro.

Lexus rearview mirror cameras will debut in October

The feed from the new side camera's will be displayed inside on two 5-inch displays that sit on the ES' a-pillars. . If you are excited about ordering an ES with this mirror tech, Lexus says that it will only be available in Japan.

OnePlus has officially given up on the headphone jack

OnePlus has shared that it will introduce an updated USB Type-C variant of its existing OnePlus Bullets V2 earphones. The company also favours Type-C over 3.5mm jack as there is minimal loss of quality in the former option.

Apple will no longer give free dongles with new iPhones

Apart from an infinite contrast ratio, it also supports HDR with Dolby Vision and HDR10 for even better color reproduction. In camera , iPhone features a 12 megapixel camera with f/1.8 aperture size with wide angle lens.

Canadiens brass moving forward after Pacioretty trade

He's the primary piece of the Habs' return, and has scored 196 points in his last 129 games with the OHL's Owen Sound Attack. Vegas acquired that pick as part of the compensation for them agreeing to take William Karlsson in the Expansion Draft.

Natasha Howard helps lead Seattle Storm to WNBA title

Washington refused to use her bone bruise as an excuse, but with the season over, the star forward expounded on her limitations. Players were selected by position and received five points for each First Team vote and three points for each Second Team vote.

Wheeling-Charleston Bishop Resigns As Vatican OKs Investigation Into Sexual Harassment Allegations

John Fisher Catholic Church in Richmond while also serving as the archdiocese's episcopal vicar for Hispanics. He said the devil "tries to uncover the sins, so they are visible in order to scandalize the people".

Jose Mourinho Eyeying $107 Million Deal For Juventus Superstar

Tottenham were heavily linked with the player throughout the summer, while Chelsea were also said to be keen. The 30-year-old is said to have held talks with French giants Paris St.