Justin Trudeau Does Not Believe US will pull out of NAFTA

Canadian Prime Minister Justin Trudeau said in an interview he does not think U.S. President Donald Trump will pull out of NAFTA, despite differences over how to update the trade pact, the Canadian Broadcasting Corp said on Wednesday.

Trudeau’s comments were among the most positive made by any Canadian official since talks started last year to revamp a $1.2 trillion treaty that Trump calls a disaster.

“It obviously would be bad if we canceled it, so I don’t think the president is going to be cancelling it,” Trudeau told the CBC in an interview recorded on Tuesday. The CBC released excerpts on Wednesday.

Trudeau also told the CBC that Canada has multiple contingency plans in the event Washington does announce it plans to withdraw. The Trump administration is demanding big changes to the pact, and this has caused tensions with Canada and Mexico.

Trump’s trade chief, speaking in Montreal on Monday after the sixth of eight rounds of talks, rejected proposals for unblocking the negotiations but promised to seek quick breakthroughs.

Foreign ministers from the United States, Canada and Mexico will meet in Mexico City on Friday to discuss the talks and other issues, the Canadian government said on Wednesday.

via Reuters

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.