Breaking news on the trade front this evening as we’re seeing reports that a new NAFTA deal has been struck with Canada:
Breaking News – sources close to the NAFTA talks say a deal is done. A form of dispute resolution (chapter 19 – Canada’s red line) remains intact #NAFTA #cdnpoli
— Mike Le Couteur (@mikelecouteur) October 1, 2018
Canada and the U.S. have reached a NAFTA deal, concluding a difficult 13-month negotiation that had hindered the Canadian economy and damaged bilateral relations. Early story from me and @TondaMacC: https://t.co/ySmEN0Hkiu
— Daniel Dale (@ddale8) October 1, 2018
Terrific news. Korea, Mexico, Canada deals now done. More to come. America finally negotiates like we have the strong bargaining position…because we do! Big wins for our workers. https://t.co/JHSiIkPvv5
— Steve Cortes (@CortesSteve) October 1, 2018
Details, however, to come:
No details yet. News of any deal, though, is likely to cheer businesses around the continent. It means Canada has – at least for now – gotten Trump' to buy in to an accord he has repeatedly threatened to kill. And it gives Trump a trade "win" to tout, regardless of what's in it.
— Daniel Dale (@ddale8) October 1, 2018
Many caveats. Particular industries in Canada and the U.S. might be unhappy with particular provisions. And, critically, the three countries' legislatures have to approve the deal. Canada and Mexico will be easy; the U.S. Congress might not be. Old NAFTA stays in effect for now.
— Daniel Dale (@ddale8) October 1, 2018
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And we’re awaiting official confirmation:
Nafta latest: source tells me that a deal is imminent, but source says they will only believe it's done-done when the U.S. and Canada have a joint statement.
— Josh Wingrove (@josh_wingrove) October 1, 2018
The Washington Post is now reporting it, too:
BREAKING: Canada joins trade deal w/ US & Mexico, ending over a year of tense negotiations on a 'new #NAFTA' to govern $1.3 trillion in #trade
Deal expected to be signed by Nov. 30 by all 3 leaders. (Congress expected to approve it in 2019)https://t.co/2E3mb1AcND @davidjlynch
— Heather Long (@byHeatherLong) October 1, 2018
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