Canada still optimistic for new NAFTA deal

USA Trump and Trudeau at the White House | NAFTA

The US and Canadian leaders also discussed the Bombardier-Boeing trade dispute.

The top US business group pledged to fight to preserve the pact, a congressional committee said it was committed to successful talks, and Mexico signaled it can live without the accord. Replying to a question, Trump said he would consider a trade pact with Canada minus Mexico, adding that both the U.S. and Canada wanted to protect their workers.

The newspaper said British ministers were looking at joining the North American Free Trade Agreement (NAFTA) as part of planning for the possibility of Britain leaving the European Union in March 2019 without a trade deal.

But U.S. President Donald Trump has warned he may terminate the 1994 NAFTA deal because he says it does not serve U.S. economic interests.

Videgaray said leaving NAFTA would increase tariffs by an average of about 3.5% for the 44% of Mexican exports that use NAFTA trade preferences.

The Liberal government's approach to foreign policy as a mix of formal and public diplomacy was on full display Thursday as Prime Minister Justin Trudeau arrived for his first state visit to Mexico.

The US administration, having found Bombardier guilty of receiving state subsidies, slapped a 220 percent countervailing duty on Bombardier CS100 and CS300 aircraft imported into the United States. The talks are scheduled to conclude October 16.

"There is life after NAFTA", Mexican Economy Minister Ildefonso Guajardo said Tuesday in an interview with Radio Formula. "I think it's just a bridge too far", said Wendy Cutler, the Asia Society's Washington policy director and former chief US negotiator for the Trans-Pacific Partnership trade deal canceled by Trump.

In recent weeks, the Trump administration has sparred with American businesses that support NAFTA and has pushed for significant changes that negotiators from Mexico and Canada say are nonstarters.

Negotiators have completed talks on NAFTA provisions relating to small and medium enterprises as well as competition, Lighthizer's office said.

"Instead of encouraging more USA content, these provisions will lead to less US content", Wilson said. "It makes sense to modernize it", said Glenn Hamer, president and CEO of the Arizona Chamber of Commerce.

"There are several poison pill proposals still on the table that could doom the entire deal", he said in a speech delivered in Mexico.

"Clearly, a clause that cancels the agreement every five years totally defangs it", Vogel said.

"We have an incredibly close relationship".

"We are much worse off with a bad deal than without a deal", said Guillermo Vogel, Vice President of Steelmaker Tenaris, who co-hosted a meeting of Mexican and United States business leaders in Mexico City aimed at pursuing strategies of defending NAFTA.

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