WASHINGTON and MEXICO CITY — U.S. President Donald Trump said on Wednesday Oct. 11 that he was open to bilateral trade pacts with either Canada or Mexico if a three-way deal cannot be reached to substantially revise the North American Free Trade Agreement.
Meanwhile, U.S. and Mexican corporate chief executives gathered in Mexico City said they would be better off with no NAFTA than be saddled with a “bad agreement.”
As industry braces for the end of a treaty that drives $1 trillion in annual trade, the CEO meeting in Mexico City ran in parallel to talks near Washington aimed at refreshing the 1994 agreement. Mexico, Canada and businesses are united in opposition to a number of radical U.S. proposals they say would damage the North American economy.
Asked by a reporter if he could envision maintaining free trade with Canada if NAFTA talks sour with Mexico, Trump said: “Oh sure, absolutely. It’s possible we won’t be able to reach a deal with one or the other, but in the meantime we’ll make a deal with one.”
Trump added that a “very creative” deal was still possible to benefit all three countries.
Trump’s comments came at a White House meeting with Canadian Prime Minister Justin Trudeau, who was in Washington to promote NAFTA’s benefits as a new round of renegotiations began near Washington.
Mexican Economy Minister Ildefonso Guajardo, speaking on Mexican radio, praised Trump’s comments as “very balanced” to include the possibility of a deal with either country and hold out hope for a creative solution.
The U.S. Chamber of Commerce on Tuesday accused Trump’s administration of trying to sabotage the talks with “poison pill proposals,” including demands for more favorable treatment for the U.S. side on car production, and a “sunset clause” to force regular negotiations.
Trade experts believe the formal NAFTA negotiations will staff in the face of aggressive U.S. attempts to sharply increase content requirements for autos and auto parts.
more recommended stories
Cementos Fortaleza inaugurates Progreso plant
PROGRESO, YUCATAN (September 21, 2020)Elementia-owned Cementos.
8 thousand people visit the Progreso municipality on Sunday
According to the report, police officers.
Florida man fights off alligator by poking its eyes
ORT ST. LUCIE, Fla. — Mark.
Major cruise lines are about to resume sailings… But, are they coming to Progreso?
The sailings are starting as two.
Contractors ‘Abandon’ Dos Bocas construction
MEXICO CITY (Reforma) – The American.
More Than 200 Whales Stranded In Tasmania, Massive Rescue Mission To Begin
On September 20, Marine conservationists were.
Lopez-Gatell warns of further confinement in October due to pandemic.
The Covid-19 pandemic will continue in.
Populist AMLO left embarrassed by failed attempt to raffle presidential plane
López Obrador decided that the raffle.
Fentanyl seizures in Mexico up 465%
Mexican authorities say seizures of the.
Climate Change Will “Thaw” New Viruses – Experts warn.
Experts warn that the warming of.