Negotiators from the United States and Mexico have reportedly struck a “preliminary” deal to overhaul the 24-year-old North American Free Trade Agreement; fulfilling the President’s key campaign promise to revamp the nation’s outdated trade policies.
“The United States and Mexico have reached agreement to revise key portions of the 24-year-old North American Free Trade Agreement and a preliminary deal could be announced on Monday, a crucial step toward revamping a trade pact that has appeared on the brink of collapse during the past year of negotiations,” writes the New York Times.
A big deal looking good with Mexico!
— Donald J. Trump (@realDonaldTrump) August 27, 2018
According to insiders, the new agreement addresses concerns raised by the White House regarding the automobile industry, construction, and protecting American workers.
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TRUDEAU TURNS: Canadian PM Now SUPPORTS TRUMP on NAFTA
Canadian Prime Minister Justin Trudeau hinted Thursday that he now supports President Trump’s revamped NAFTA program; backing the US leader after recent polls showed the liberal politician losing support throughout Canada.
According to Yahoo News, Trudeau signaled his support for a revised version of the North American Free Trade Agreement this week, telling reporters there was a “high chance” of reaching a new deal.
“We have a high chance of reaching a win-win-win deal for Canada, the United States and Mexico,” said the Prime Minister. “With the pressures of the elections in Mexico, and the US elections, if we could announce something at the Summit of the Americas, that would be great.”
Trudeau’s comments come days after new polls show him losing support in Canada; with the Conservative party gaining ground in recent surveys.
“All of a sudden, we saw this drop,” said the chief executive of Abacus Data, an Ottawa polling firm. “It’s the first time since Trudeau became prime minister that we have results showing the Conservatives slightly ahead.”
TRUMP TRADE: Mexican Officials Say NEW NAFTA DEAL Just Hours Away
Mexican authorities confirmed Wednesday that a re-designed NAFTA deal with the United States may be “hours away,” adding a trade “solution” between the two nations is rapidly taking shape.
According to Reuters, Mexican Economy Minister Ildefonso Guajardo addressed reporters before holding high-level negotiations with his American counterparts, saying “We hope that we’ll have a solution in the next couple of hours, or the next couple of days.”
“Since restarting last month, the talks have focused on settling differences between Mexico and the United States that go to the heart of U.S. President Donald Trump’s complaint that NAFTA has hollowed out U.S. manufacturing to Mexico’s benefit,” writes Reuters.
President Trump has repeatedly threatened to withdraw from the international agreement in recent months, saying unfair trade deals with Mexico and Canada have severely damaged America’s manufacturing base.
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