'Really good deal' reached with Mexico on trade: Donald Trump

Aug 28, 2018, 00:38
'Really good deal' reached with Mexico on trade: Donald Trump

"We'll start negotiating with Canada relatively soon, they want to negotiate very badly", Trump said.

Mexican Economy Secretary Ildefonso Guajardo cited unspecified "advances" following eight hours of talks Sunday with a team led by US Trade Representative Robert Lighthizer and President Donald Trump's son-in-law and senior White House adviser Jared Kushner. "We're going to call it the US-Mexico Trade Agreement".

Instead, the Mexican President Enrique Peña-Nieto, who joined Trump in the Oval Office by speakerphone, emphasized three times the importance of Canada joining the burgeoning agreement.

"It's not the right time to talk, but eventually I'm sure we'll be able to work out a deal with China, but in the meantime we're doing very well with China, ' Trump said Monday".

Trump said he would speak with Canadian Prime Minister Justin Trudeau "in a little while" and hoped to begin negotiations with him "almost immediately".

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USA and Mexican officials say the two countries have reached a deal on revamping the North America Free Trade Agreement.

"They used to call it NAFTA", Trump said. The Mexican president said he wanted the former.

Canada would continue to negotiate, but would only sign a new agreement that is good for the country, a spokesman for Canadian Foreign Minister Chrystia Freeland said. Provisions of the new agreement Monday are likely to include new requirements for automakers' infotainment systems and parts that were previously exempt from the final composition list under the old agreement. When combined with the fact that we pay for most of their defense through NATO, Europe has benefited greatly from past USA administrations' willingness to let Europe leach off of American workers and taxpayers.

"What we will do is ideally Canada will be in and we'll be able to notify that". But what Trump's going for here is headlines saying he won ... and too many US media outlets will probably give him that.

Talks to update Nafta began a year ago, but in recent weeks have been held between just the United States and Mexico.

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"NAFTA revocation would lower real incomes in the large majority of sectors in all three NAFTA countries, and that average wages would fall in almost all regions in North America", Auer wrote.

Although the deal will not be finalized immediately, the progress in negotiations comes as a relief to US businesses that find themselves in the middle of trade wars with Mexico, Canada, China and the European Union, The New York Times reported. However, while the US and Mexico have reached tentative agreement, they're working under a tight deadline, hoping to have things finalized before Mexican President-elect Andrés Manuel López Obrador is sworn in on December 1.

The scope of what deal could be announced, or when Canada will rejoin is unclear.

Earlier on Monday, Trump had tweeted about "A big deal looking good with Mexico".

But the administration's own description calls the deal a "preliminary agreement in principle".

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-Mostly-Canadian Things: The U.S. -Mexico negotiations have been bilateral talks on how a three-way pact would look.