Looks like another great victory in the cards

Coffeehouse for desis :: Coffeehouse :: Coffeehouse Main

Page 1 of 1

Looks like another great victory in the cards

by confuzzled dude Thu May 31, 2018 8:29 pm

Canadian Prime Minister Justin Trudeau said months of intense negotiations between his country, the United States and Mexico imploded Tuesday when Vice President Pence demanded that any deal expire automatically in five years.

Trudeau said he was prepared to travel to Washington this week to try to finalize a rework of the North American Free Trade Agreement, but Pence, in the phone call, said a meeting would occur only if the “sunset” provision was agreed to in advance.

“I had to highlight that there was no possibility of any Canadian prime minister signing a NAFTA deal that included a five-year sunset clause, and obviously the visit didn’t happen,” Trudeau said Thursday.

Trudeau’s comments came after President Trump enacted the most severe economic penalties he has imposed to date against U.S. allies, establishing tariffs on steel and aluminum imports from Canada, Mexico and the European Union. The trade partners are expected to retaliate in what is becoming a fast-developing global trade war.

A White House official, who spoke on the condition of anonymity to describe the back and forth between the countries, said Trudeau spoke to Trump last Friday, and then Trudeau called Pence on Monday to follow up. Pence called Trudeau back Tuesday “to discuss ongoing negotiations.”

The sunset issue was one of several that the White House wanted “clarity” on before any meeting took place, the White House official said.

These tensions are expected to intensify. Trump, Trudeau and several other world leaders are scheduled to meet next week in Canada at a Group of Seven meeting.
Trump has said the tariffs are necessary to protect U.S. national security, but they have been widely criticized by foreign leaders, U.S. business groups and even some labor groups as being ill designed and potentially damaging to the U.S. economy.

The White House has sought to include a sunset provision in the NAFTA renegotiation for months, but Canada and Mexico have been cool to the idea, saying it would remove any economic security and certainty for businesses trying to comply with trade rules.

https://www.washingtonpost.com/news/business/wp/2018/05/31/trudeau-says-nafta-talks-broke-down-after-pence-made-ultimatum/?utm_term=.a37a8f14c4ec

confuzzled dude: Posts : 10205
Join date : 2011-05-08