US Offers to Waive Steel Tariff from Canada

Mexican peso weakens after top Trump economic aide resigns

The final days of the negotiations were drawn into the orbit of the recent announcement by President Trump that the US would impose tariffs on steel and aluminum imports.

"Canada must treat our farmers much better". But Commerce Secretary Wilbur Ross, whose agency oversaw reviews of the industries that recommended the tariffs, said Sunday on ABC's "This Week" that Trump is "talking about a fairly broad brush".

"There's a list (of USA products) that we are analyzing internally, but we won't make it public, we're going to wait", Guajardo said.

It's not a stretch to say that throughout his presidential campaign, one of Donald Trump's favorite lines was "I will build a wall, and Mexico will pay for it". Thus far in the NAFTA negotiations, however, there has been little movement on the dairy issue.

Mr. Lighthizer, the man in charge of USA trade negotiations, including NAFTA talks, was "inordinately fixed" on the relative size of the US economy compared with others, Mr. Now as president he needs to find a way out of that corner and into a position where he can make progress on important issues with our neighbor to the south.

It's unclear why NAFTA's top negotiators opted for chumminess in response to Trump's sulky tweets.

At the same event, David MacNaughton, Canada's ambassador to the US, said there is "no question" that NAFTA needs an "update".

The Mexico City round of talks is the seventh since last August.

Salvador Behar added that the tariff announcement "hasn't contaminated the mood" of the current talks but said that it was "an irritation for Mexico and many other countries". Because of this, dairy farms in Kansas have been affected, Marshall explained. "It's highly unusual for a 25-year agreement to go without being changed", notes Sosnow. "There are a number of issues on the table - they have to be resolved". "We think that Canadians support us, that getting to a better deal is the way we should address this".

Mourneau said challenges to the economy come from within Canada as well, including the ongoing battle over the future of Kinder Morgan's Trans Mountain pipeline expansion between the Edmonton area and Metro Vancouver. Not every country allows the same amount of duty-free product to cross borders.

"A diary processing plant in Garden City had plans to process dry milk for export to China", he said. This has been a longstanding U.S. concern about the treatment of our workers and businesses. "So, we are going to do the work it takes to get a good - I will even say excellent - modernization of NAFTA". "And now we have Canada undercutting us, when they're the highest-cost producers in the world".

From a Canadian perspective, "the dynamics are rough from what we can see", says Sosnow.

Whether that can be done in the context of NAFTA - and without completely dismantling supply management - remains to be seen.

The plan has sparked an outcry among American allies such as Canada, the European Union, Mexico and Australia, as well as China. However, Mnuchin is certain President Trump's plan levels the playing field for US companies. But for the first time he made public his hope of renegotiating NAFTA, completing the legally required consultations, and proceeding to a ratification vote before a new Congress gets sworn in next January.

"The renegotiation of NAFTA is really an opportunity for owners to truly understand the implications of the trade pact on their businesses", Elliott said in an interview.

But just a few hours later, representatives of the three countries appeared unfazed by Trump's tirade as they closed the latest round of negotiations to remake the 24-year-old trade agreement.

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