Canada's Trudeau: won't sign a bad NAFTA deal
Canada's Prime Minister, Justin Trudeau, made statements today about the current state of NAFTA renegotiaions, reaffirming his dedication to a fair deal, as well as making a few points about the upcoming G7 meeting which takes place in Canada beginning on June 8th.
PM Trudeau spoke today on NAFTA, stating that continued disruption of current US-Canada trade means more lost US jobs after the US has taken trade with Canada for granted for so long, but that the PM is motivated to accomplish a good trade deal because of all of the uncertainty surrounding the current talks. Trudeau also believes that there is a win-win scenario for NAFTA, and that the US-Canada trade links won't be changing any time soon. Trudeau also noted that the recent move by the Trump administration on automotive tariffs signals that the US is seeking trade concessions, but despite Canada's willingness to negotiate Trudeau is unwilling to accept a bad deal.
Touching on the upcoming G7 summit, Trudeau stated that the meeting needs to reassure people about globalization, and that the current challenge for the G7 is to ensure that global growth is being shared fairly, but the Canadian PM also noted that most of the current global political uncertainty is stemming from 'anxiety', taking a stab at President Trump's heavy-handed methods of negotiation and posturing.
Author
Joshua Gibson
FXStreet
Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.
