Canada-U.S. NAFTA talks could bump up against midnight deadline

Canada-U.S. NAFTA talks could bump up against midnight deadline

Canada's ambassador to Washington says the USA and Canada have made a lot of progress in free trade talks but there is no deal.

The White House's Peter Navarro said "everybody's speaking in good faith right now as we speak", on Fox Sunday.

Federal cabinet ministers were being called into a late-night NAFTA meeting Sunday with the prime minister amid signs that the fall finale to Canada's long-running NAFTA drama may finally be at hand - with the famous unpredictability of the man in the White House giving everyone cause for caution.

-Canadian negotiations to a successful finish, a USA official briefed reporters that the us won greater access to the Canadian dairy market, in part via an increase in Canadian dairy import quotas. And given there is every indication that we are virtually guaranteed a bad deal, it's time to say no to NAFTA. He blames the treaty for the loss of American manufacturing jobs and has repeatedly threatened to abandon the trade past signed in 1994, during the Clinton administration.

A protectionist policy under the Mr Trump has seen the USA forge ahead with individual trade deals, rejecting bigger multi-lateral trade agreements and posing a challenge to decades of global free trade.

The key one concerns the dairy system in Canada.

Some people familiar with the talks credited Trump senior adviser Jared Kushner for helping smooth the path toward a deal.

The U.S. source said common ground had been reached on all the most hard issues.

It also appears to preserve the key dispute-resolution provisions - Chapter 19 - which allows for independent panels to resolve disputes involving companies and governments, as well as Chapter 20, the government-to-government dispute settlement mechanism.

According to industry experts, the rule would also allow the Trump administration the ability to impose higher tariffs on national security grounds if vehicles do not comply with the new thresholds.

Because the old agreement was cemented by Congress, and was not a treaty, Mr. Trump would still have to get Congress on board and, under USA law, Mr. Trump will have to made the agreement public two months before he can sign it. "And frankly we're thinking about just taxing cars coming in from Canada, that's the mother load, that's the big one".

Canada, the USA and Mexico are all pushing for a trilateral NAFTA pact, a change of tone after the latter two countries had planned to release details on a renegotiated deal without Canada.

A series of calls the Prime Minister made to the chief executive officers of Canada's five largest banks leading into the weekend marked the culmination of months of back-channel communications between banks and government officials.

"It's a good day for Canada", Trudeau told reporters leaving his office Sunday night.

Under the current system, USA imports exceeding quota levels are subject to excessively high tariffs, such as 245 percent for cheese and 298 percent for butter.

But the deal failed to resolve US tariffs on Canada's steel and aluminum exports.

The US and Canada were under pressure to reach a deal by the end of the day Sunday, when the US must make public the full text of the agreement with Mexico.

The deal must clear a series of procedural hurdles to get to Congress for a vote, which is unlikely to come before 2019.

"In short, we think this is a fantastic agreement for the United States but also for Canada and Mexico".

Two Canadian sources have confirmed to Global News that the free trade deal has been finalized.

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