athavaneng.com
athavaneng.com
chrome

Trade expectations shared at seventh round of Nafta talks

In
Updated: 00:00 GMT, Jan 1, 1970 | Published: 03:23 GMT, Mar 6, 2018 |
0 Comments
1297

The lead negotiators for Canada, Mexico and the United States spoke at a joint news conference on Monday (March 05) to discuss the latest round talks to renegotiate the NAFTA trade pact even as President Trump’s plan to impose steel and aluminum tariffs threatened to make negotiations even more difficult.

Robert Ligthizer, the top U.S. trade envoy, said that bilateral deals could replace NAFTA if the pact is not renegotiated soon, ramping up pressure on Canada and Mexico.

“We would prefer a three-way tripartite agreement. If that proves impossible, we are prepared to move on a bilateral basis,” Lighthizer said, reading from a statement in Mexico City at the end of a seventh round of talks.

The Mexico City round of NAFTA talks was thrown into disarray after Trump announced a plan last week to impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports, arguing they were needed to protect U.S. industries and jobs.

Both Canada and Mexico send more than 75 percent of their goods exports to the United States.

Talks on the $1.2 trillion NAFTA pact are moving slowly, in part because Canada and Mexico are resisting U.S. demands for major changes such as adding a sunset clause, which would lead to the automatic termination of NAFTA if it was not reworked every five years.

Uncertainty over the talks, and the potential for a wider global trade war, are making investors nervous. Trump’s tweet helped push the Canadian dollar down to C$1.2988 to the U.S. dollar, the lowest level since July 7, 2017.

Your Comment

அன்புள்ள வாசகர்களே, நீங்கள் தெரிவிக்கும் கருத்துகளுக்கு நிர்வாகம் எவ்விதத்திலும் பொறுப்பாகாது. கருத்துக்கள் தகுந்த தணிக்கைக்குப் பிறகே பதிவேற்றம் செய்யப்படுகின்றன. எனவே நாகரீகமான கருத்துக்களை மட்டுமே பதிவு செய்யுமாறு வாசகர்கள் கேட்டுக்கொள்ளபடுகின்றனர். முக்கியமான புலங்கள் குறிக்கப்பட்டுள்ளன *

Type Comments in Tamil language (Press Ctrl+g to toggle between English and Tamil)

*