Canada plays down Trump comments on NAFTA, sees trilateral deal

By Kitco News / July 19, 2018 / www.kitco.com / Article Link

OTTAWA (Reuters) - Canada on Thursday played down U.S. President Donald Trump’s suggestion that he might seek separate trade deals with NAFTA partners Canada and Mexico, noting he has made similar comments before.

Trump said on Wednesday the United States might hammer out a trade deal with Mexico, and then do a separate one with Canada later. Talks to modernize the North American Free Trade Agreement are moving slowly.

“From the outset President Trump has articulated a desire to do bilateral deals rather than multilateral deals so his comment wasn’t a tremendous surprise,” said David MacNaughton, Canada’s ambassador to the United States.

“(NAFTA) is a tripartite agreement, we’d like to keep it that way ... I am still fully confident we are going to end up with a trilateral deal and not two separate bilateral deals,” he told a televised news conference in the Canadian province of New Brunswick.

Hanging over the NAFTA talks is Trump’s threat to impose tariffs on auto imports, which would hit the highly integrated North American car and light truck industry.

MacNaughton said he was encouraged that major firms in the United States were now starting to speak out against the idea.

Reporting by David Ljunggren; Editing by Susan Thomas

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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