Canada’s Freeland returns to Washington for NAFTA talks

Gold catches late NY bid on NAFTA headlines, but . . .

Gold catches late NY bid on NAFTA headlines, but . . .

Canada's main stock market started the week down for seventh-straight day amid an off-day for any headlines on NAFTA as negotiations are set to resume Tuesday.

A couple of weeks ago the White House announced a new NAFTA deal between the USA and Mexico, which they sent up to Congress for possible consideration. Rather, they're following the standard political economist playbook: protect those industries and sectors that can help carry Trudeau to another win in the federal elections 13 months from now.

President Donald Trump warned Friday that he would impose 20-per-cent tariffs on auto imports from Canada if it does not agree to a "fair" deal, a move he said would bring "ruination" here.

"Our farmers don't have access to the Canadian markets the way that they have access to us", Perdue said in an interview that aired Sunday on C-SPAN.

US dairy farmers have long demanded more access to Canada's market and also are unhappy about a Canadian decision to allow farmers to sell milk protein products to the country's processors at a lower price, cutting off American supplies.

Prime Minister Justin Trudeau said last Wednesday he did not see the need to attend the talks for the time being.

Mulroney acknowledged U.S. Trade Representative Robert Lighthizer is on a short leash from the White House when it comes to what he can offer in the talks, but noted that Trump trusts Lighthizer a lot.

Here are 3 more hurricanes that aren't named Florence
Officials have ordered mandatory evacuations in South Carolina, North Carolina and Virginia, affecting more than a million people. Travel dates covered also vary, but most are focusing on the dates between Thursday, Sept. 13 and Sunday, Sept. 16.

Freeland is expected to answer questions from reporters later this afternoon.

Trudeau has said Canada could be willing to be flexible on dairy.

Trump has notified Congress he intends to sign the trade deal reached last week with Mexico by the end of November, and officials said the text would be published by around October 1.

"Without Chapter 19, NAFTA is utterly useless as it would subject Canada and Mexico to the vagaries of the USA political system and its courts when determining trade policy actions", said Derek Holt, vice-president at Scotiabank Economics, in a note recently. The official spoke on condition of anonymity due to the sensitivity of the negotiations. "I think everybody is working towards a deal", said Flavio Volpe, president of Canada's Automotive Parts Manufacturers Association. "Possibly they'll be meeting all night long", Freeland said.

In 2016, after yielding greater market access under the European Union deal, Trudeau's government paid dairy farms and processors hundreds of millions of dollars to compensate and is expected to pay out again for the Pacific deal.

While modest progress on trade tensions would leave many unresolved issues, the trajectory of talks with Mexico, Canada and trading partners in Europe suggests the Trump administration may forgo imposing more tariffs on its allies, while momentum builds for a dramatic escalation in a trade war with China.

Trump has claimed that the 1994 pact has caused the loss of hundreds of thousands of U.S.jobs, something that most economists dispute.

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