Trump says open to bilateral Canada, Mexico pacts if NAFTA talks fail

He sounds like he really means

He sounds like he really means

The renegotiation of the NAFTA, including the fourth round began Wednesday in Virginia, were on all lips during the day.

Victor Herrera, who's spent 35 years covering Latin American financial markets, warns that NAFTA's demise would have major effects.

"He views it as a violation of USA sovereignty", she added. The new economic nationalism displayed by the former leader of the Free World will encourage the same elsewhere - we tried this in the late 1920s and how'd it work out?

Trump on Wednesday repeated his warnings that he might terminate the pact and said he was open to doing a bilateral deal with either Canada or Mexico if three-way negotiations fail.

"Growth could be 1 percent higher if the country had better accountability and more transparency". US negotiators have countered with a proposal that would effectively grant the other countries less access, people familiar with the talks say.

One reason for the short time frame is Mexico's highly contested 2018 presidential race. "I think it's going to work out well for both countries and Mexico".

The U.S. Chamber of Commerce on Tuesday accused Trump's administration of trying to sabotage the talks with "poison pill proposals", including demands for more favorable treatment for the U.S. side on vehicle production, and a "sunset clause" to force regular negotiations.

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The Canadian PM, while addressing a gathering at the Fortune Most Powerful Women Summit recently, with the USA president's daughter Ivanka in the crowd listening to him, said his approach towards reaching out to Trump remains the same like any other global leader.

In his appearance with Trudeau, Trump said: "We'll see what happens" when asked whether NAFTA was doomed.

"We don't hope it will, we don't desire that it will, we don't believe that it will, but it is at least a conceptual possibility as we go forward", Ross said. "We need to talk about labor costs and how wages are much cheaper in Mexico".

In his meeting with Trump, Trudeau was expected to remind the president that Canada is the United States' biggest export customer, with largely balanced two-way goods and services trade, and is not the cause of US manufacturing jobs lost under NAFTA, Canadian officials said. Trump is heading to an event in Pennsylvania while the Canadian prime minister scheduled his own news conference. Debbie Dingell and Dan Kildee, both D-Mich., and both with auto and part plants, though not as many as once loomed there.

"He made it clear they don't want to pull out". This week, his government revealed it would investigate buying surplus fighter jets from Australia rather than complete a contract to buy new fighters from Boeing.

The two met one day after an interview was published in Forbes magazine in which Trump said that NAFTA had been "a bad deal for our country". "NAFTA is a disaster as a deal", Trump told the magazine. "We've gotta make people know what the ISDS is".

Mexico has been more assertive with Washington, talking openly about abandoning NAFTA if need be or slashing imports of USA grain. In a sign of how contentious things could get, the countries extended the negotiations for two extra days, through Tuesday.

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