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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD alternates gains with losses near 1.0720 post-US PCE
The bullish tone in the Greenback motivates EUR/USD to maintain its daily range in the low 1.070s in the wake of firmer-than-estimated US inflation data measured by the PCE.
GBP/USD clings to gains just above 1.2500 on US PCE
GBP/USD keeps its uptrend unchanged and navigates the area beyond 1.2500 the figure amidst slight gains in the US Dollar following the release of US inflation tracked by the PCE.
Gold keeps its daily gains near $2,350 following US inflation
Gold prices maintain their constructive bias around $2,350 after US inflation data gauged by the PCE surpassed consensus in March and US yields trade with slight losses following recent peaks.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.