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Britain Could Join NAFTA If Brexit Deal Fails

13 October 2017

However, in his typically uncompromising approach to diplomacy, Trump told reporters later that "if we can't make a deal, it'll be terminated and that will be fine". "If the agreement dies overnight, this is going to have an impact on the daily lives of a lot of people, because all of a sudden there's going to be a scarcity of nearly everything that we consume in Mexico-especially on foodstuffs", says the former office head for S&P's Global Ratings in Mexico City.

In comments made at the White House with Justin Trudeau, prime minister of Canada, ahead of the start of fourth round of talks, Trump warned it was "possible" that the United States would drop out of the 1994 deal.

Asked during his appearance with Trudeau whether NAFTA was dead, Trump said, "We'll see what happens".

Trudeau was heading to Mexico City after leaving Washington for talks with President Enrique Pena Nieto.

Following the most recent round in Ottawa last month, negotiators said they had made progress on subjects such as telecommunications, competition policy, digital trade, regulation and customs and trade facilitation.

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Foreign Minister Chrystia Freeland said Trudeau would "explain really clearly to the President. that Canada is not America's problem".

He said it was important to make sure the populations affected understand how the treaty benefits them.

The pomp and circumstance that greeted Trudeau at the airport was followed by a sombre wreath-laying ceremony at a monument commemorating Mexico's efforts to beat back an American invasion in the 1850s _ an apt image as both Canada and Mexico now contemplate how to withstand new US strong-arming efforts over trade.

On Wednesday, Democrat Congressman Brian Higgins joined his colleagues on the House Ways and Means Committee for a bipartisan meeting with Canadian Prime Minister Justin Trudeau to discuss binational collaboration as conversations continue related to the North American Free Trade Agreement.

But US business groups have expressed grave concern over Trump's threat to pull out. "Nafta has benefited millions of people and can benefit millions more", Trudeau said, although he added that Nafta could use a "much-needed upgrade". But Mexican leaders have also warned that talks must conclude early next year before their presidential election campaign gets underway.

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Trudeau told reporters in Washington DC that he agreed with the United States president that that the NAFTA trade deal needed to be revamped and that any new agreement needed to "give citizens opportunities to succeed".

The United States is pushing for automobiles to include more USA -made parts as well as more content from Canada and Mexico overall.

On automotive rules of origin, NAFTA negotiators face tough new US demands to increase regional vehicle content to 85 percent from 62.5 percent, with 50 percent required from the United States, according to people briefed on the plan. "There are several poison-pill proposals still on the table that could doom the entire deal", Donohue said. US negotiators have countered with a proposal that would effectively grant the other countries less access, people familiar with the talks say.

As the pair sat down, trade negotiators huddled nearby in the Washington suburb of Arlington, Virginia for another round of talks, complicated by the aerospace spat.

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Britain Could Join NAFTA If Brexit Deal Fails