Money It’s Crunch Time for NAFTA Negotiations

20:40  14 february  2018
20:40  14 february  2018 Source:   fool.com

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NAFTA Negotiators are coming under increasing pressure to reach an agreement , but the full impact of renegotiations on Magna International Inc. (USA) (NYSE:MGA). One of the problems with the negotiations so far is that they have competing, if not misguided, goals.

Energy, a Bright Spot in Nafta Talks, Bogged Down by Dispute Over Rule Change. Time is running out for Canada and Mexico to address U. S . demands for major changes to the North American “If you’re unsure where the other side wants to go it is really difficult to know what would please them

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The window of opportunity on setting up an agreement in principle on a renegotiated NAFTA is beginning to close. Over the next few weeks, the upcoming mid-term elections in the U.S. will begin to take centre stage, as will the election of Mexico’s next president.

There are two more rounds of NAFTA talks scheduled between now and April, and pressure is mounting on all sides to see some progress, as talks so far have produced little in the way of changes.

One of the problems with the negotiations so far is that they have competing, if not misguided, goals. While both Canada and Mexico are looking towards modernizing the agreement and encouraging better trade and a more integrated North American economy, the Trump administration is pursuing a protectionist stance towards trade, citing a growing trade deficit as the impetus for a renegotiation, or it may even scrap the agreement altogether.

NAFTA possible by end of March: MacNaughton

  NAFTA possible by end of March: MacNaughton OTTAWA - Canada's ambassador to the United States said Monday he believes NAFTA negotiators can reach an agreement in principle by the end of March. The upbeat assessment from envoy David MacNaughton comes in the face of the continuing threat from U.S. President Donald Trump to blow up the deal, which hangs over the final eight weeks in the current negotiating schedule. MacNaughton refused to speculate on whether Trump is likely to pull out of NAFTA, but he said enough progress has been made on the "wiring and plumbing" of the agreement that all three countries can iron out their differences on the more substantial issues in the next two months.

NAFTA negotiators from Mexico, the US, and Canada are meeting this week for the seventh round of talks. " It is time for the political leadership to decide whether to get to a deal or not," said former U. S . diplomat Scotty Greenwood.

“ NAFTA is moving along pretty well. I happen to be of the opinion that if it doesn’t work out, we’ll terminate it ,” Trump said in the Oval Office as he signed orders imposing tariffs on imported solar panels and washing machines. With time running out to address U. S . demands for major changes to

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MONTREAL (Reuters) - U. S ., Canadian and Mexican negotiators opened a key week-long round of talks to modernize NAFTA on Tuesday amid Time is running out for Canada and Mexico to address U. S "If you're unsure where the other side wants to go it is really difficult to know what would please

MONTREAL (Reuters) – U. S ., Canadian and Mexican negotiators opened a key week-long round of talks to modernize NAFTA on Tuesday amid persistent concerns the Trump administration is preparing to walk away from the trade deal, a move that could roil financial markets.

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That protectionist agenda was wildly popular in some states during the election, but Trump’s policies have done more harm than good. In addition to threatening to exit NAFTA, Trump has already scrapped membership in the TPP and shuttered discussions for a U.S.-E.U. trade deal.

The administration has been critical of Canadian industry sectors on more than one occasion. The Department of Commerce imposed tariffs on the CSeries from Bombardier, Inc. (TSX:BBD.B), and there’s also the ongoing spat over Canada’s dairy supply system and softwood lumber.

The absurd levies of nearly 300% on the CSeries imposed by the Department of Commerce were eventually overturned in a decision by the International Trade Commission earlier this year.

U.S. right seizes on 'peoplekind' comment ahead of Trudeau's trip to sell NAFTA

  U.S. right seizes on 'peoplekind' comment ahead of Trudeau's trip to sell NAFTA U.S. right seizes on 'peoplekind' comment ahead of Trudeau's trip to sell NAFTA

You can unsubscribe at any time . An aide told Morning Trade that the meeting was canceled and may not be rescheduled until after next week’s recess, when it ’ s possible that the NAFTA countries might have already struck a preliminary deal.

Time is running out for Canada and Mexico to address U. S . demands for major changes to the North American Free Trade Agreement , which President Donald Trump says has damaged the NAFTA ' s fate uncertain ahead of final round of talks in Montreal From reuters.com | Jan 22, 2018.

Another sticking point has to do with the automotive sector. The U.S. administration wants to increase the amount locally sourced goods in each vehicle. While this might be well intended, it has the potential to raise vehicle prices and completely disrupt a continental supply chain system. Automotive manufacturers such as Ford Motor Co. as well as automotive assembly and parts suppliers such as Magna International Inc.(TSX:MG)(NYSE:MGA) often pass parts and vehicles across the border.

In total, the disruption could affect over one million jobs and the economies of 30 states. Beyond that, the U.S. administration may not realize the full extent of how much Canadians buy from the U.S.

Foreign affairs minister Chrystia Freeland put that into perspective in a recent interview following the Montreal round of NAFTA talks: “We buy more from the U.S. than America sells to China, Japan, and the U.K. combined.”

Is there an endgame?

Prime Minister Trudeau has noted on more than one occasion that he would rather walk away from NAFTA altogether rather than accept “any old deal.”

‘Canada does not treat us right,’ Trump complains on trade, the border

  ‘Canada does not treat us right,’ Trump complains on trade, the border WASHINGTON—U.S. President Donald Trump delivered a vague jab at Canadian trade practices on Monday.“We lose a lot of money with Canada. Canada does not treat us right in terms of the farming and the crossing the borders,” he said at a White House event on his new infrastructure proposal. “So they’ll either treat us right or we’ll just have to do business a little bit diff… really differently,” he said. “We cannot continue to be taken advantage of by other countries.”Trump has sometimes struggled to speak clearly about trade specifics, and it was not at all clear what he meant by “the crossing the borders” or by “the farming.” © Chip Somodevilla U.S.

The next round of NAFTA negotiations begins today in Mexico City, and a lot is on the line.

The Canadian government says it expects negotiations to start this summer for a new North American Free Trade Agreement : " NAFTA negotiations will start in August — not September," Foreign Affairs Minister Chrystia Freeland said Monday in the House of Commons. A time crunch is

There is an established precedent in that regard, too. When CETA was delayed by a single region in Belgium, Canada left the bargaining table until the E.U. got itself ready rather than yielding to unreasonable conditions.

More recently, Canada’s reluctance to sign on to the TPP resulted in several changes to the agreement that matched Canada’s concerns.

A similar stance to NAFTA wouldn’t be a bad thing, and Canada’s warming to other trade blocs, such as the Pacific Alliance, has already paid dividends to Canadian banks operating in the region.

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Fool contributor Demetris Afxentiou owns shares of Ford. David Gardner owns shares of Ford. The Motley Fool owns shares of Ford. Magna is a recommendation of Stock Advisor Canada.

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