Trump Vows to Be 'Flexible' on NAFTA Ahead of Mexico's Election

Pena Nieto

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Saskatchewan's premier says he is "greatly concerned" about recent reports suggesting the United States plans to withdraw from a landmark free trade deal that has been in place for nearly a quarter of a century.

The Canadian dollar steadied against the greenback on Thursday after hitting a almost two-week low earlier in the session as investors weighed chances of a Bank of Canada interest rate hike next week and anxious about NAFTA.

Regarding trucking provisions in NAFTA, Wood said he sees little interest by any of the parties in making major changes, although US negotiators have floated a proposal that would restrict Mexican trucks from operating more freely in the United States. "They can pay for it indirectly through Nafta", the newspaper quoted Trump as saying.

Stressing the massive size of the NAFTA market - encompassing almost 500 million consumers and a combined gross domestic product (GDP) of more than $21 trillion - Freeland said, "Canada is prepared to take the time that it takes to get it right".

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Canada's marquee proposal for this month's high-stakes round of NAFTA negotiations will involve modernizing auto-parts rules, say sources familiar with the plans, which hinge on making progress on a long-standing irritant in order to propel the troubled talks forward.

"There's nothing that Canada could do, short of setting fire to the White House again, that would change the trajectory of whatever it is that Donald Trump is going to do", she said in reference to an 1812 war.

General Motors Co shares fell 2.4 percent.

But the currency was rattled this week after Canadian government sources told Reuters they were increasingly convinced that the United States planned to announce plans to pull out of the North American Free Trade Agreement. Sabia's Montreal-based pension fund has more than $286 billion Canadian worth of assets under management, including a substantial portfolio in the U.S.

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That means Mexico will essentially have paid for the wall, he said. The president said he believes it would be his most powerful negotiating tool. "I'm not optimistic that we'll see a complete resolution".

Through November, last year's pork exports to Mexico totaled 726,717 metric tons, which accounted for almost a third of the total U.S. export volume and valued at $1.37 billion, according to the U.S. Meat Export Federation (USMEF). -Canada relations and the NAFTA file - was not immediately available for comment.

Advertisment Liberal cabinet ministers have delivered a collective message that Canada will "stay strong" to defend the country's interests in the face of escalating trade tensions with the United States.

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