|

key headlines: NAFTA and trade negotiations on the spotlight

There has been a fair bit of NAFTA and trade negotiation noise crossing the wires again on Tuesday.

Here are the key headlines:

  • U.S. Trade representative Lighthizer: U.S. is making progress on NAFTA talks, especially with Mexico.
  • US President Trump: interested in seeing "Reciprocal tax" on certain types of imported goods, but does not provide specifics.

Steve Verheul, who took up the role as chief NAFTA negotiator for Canada in August 2017 who would lead negotiations with American and Mexican counterparts has been speaking in Ottawa today with the following headlines. 

  • Quite close to completing some chapters such as customs, telecommunications. 
  • Has seen limited US flexibility on even some of the easier issues, this is being driven from the top.
  • Reiterates Canada concern that US auto content proposal would drive production offshore.
  • Says is no point to US proposal to set up nonbinding dispute settlement panels.
  • US procurement offer is worst offer ever made by US in a trade negotiation.
  • Will continue to put forward creative proposals to find common ground on US proposals.
  • There are large gaps between what Canada and US want to achieve on key files.
  • US team has made clear it wants concessions to benefit US economy, says Canada wants to improve the treaty.
  • Says conscience says US could initiate process to pull out of NAFTA.  Canada is ready for that.
  • This is not the kind of negotiations we are used to.
  • Canada will stay at table as long as there is a chance of achieving a good solution.
  • Negotiator says hasn't given up on hope of crafting a treaty to benefit all 3 NAFTA members.

Author

Ross J Burland

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

More from Ross J Burland
Share:

Editor's Picks

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.

Crypto Today: Bitcoin, Ethereum, XRP rebound as risk appetite improves

Bitcoin rises marginally, nearing the immediate resistance of $68,000 at the time of writing on Friday. Major altcoins, including Ethereum and Ripple, hold key support levels as bulls aim to maintain marginal intraday gains.

Week ahead – Markets brace for heightened volatility as event risk dominates

Dollar strength dominates markets as risk appetite remains subdued. A Supreme Court ruling, geopolitics and Fed developments are in focus. Pivotal Nvidia earnings on Wednesday as investors question tech sector weakness.

Ripple bulls defend key support amid waning retail demand and ETF inflows

XRP ticks up above $1.40 support, but waning retail demand suggests caution. XRP attracts $4 million in spot ETF inflows on Thursday, signaling renewed institutional investor interest.