March 29, 2024 06:04 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi has mastered art of manipulating democracy, hurting Constitution: Mallikarjun Kharge | Mafia-turned-politician Mukhtar Ansari dies of cardiac arrest at 63 | NIA arrests key conspirator in Bengaluru cafe blast case | Actor Govinda returns to politics after 14 years of 'vanvas', joins Eknath Shinde camp | 'To browbeat and bully others is vintage Congress culture': PM posts after 600 lawyers write to CJI
US to pull out of NAFTA? Canada believes so

US to pull out of NAFTA? Canada believes so

India Blooms News Service | @indiablooms | 11 Jan 2018, 07:25 pm

Ottawa/Washington, Jan 11 (IBNS): Canada seems to believe that the United States will pull itself out of the North Atlantic Free Trade Agreement (NAFTA) by the end of January, according to Financial Post.

Canada, Mexico and the US are scheduled to meet for the last round of negotiation over NAFTA in January end.

However, Canada feels that the US will pull itself out of the agreement in the last round of talks only, Financial Post reported.

Following the news, both Canadian and Mexican currencies have weakened in respect to the US dollars.

The trade relations between Canada and the US took a turn this week after Canada filed a World Trade Organisation complaint over America's duties against Canada.

The US has hit back by calling the move as "broad and ill-attacked attack".

Canadian Prime Minister Justin Trudeau recently, early in this month, faced heat from US President Donald Trump, who acclaimed the former saying "a nice guy" but also has hit out at his counterpart over their differences on "trade deficit" discussions, media reports said.

Referring to Trudeau, Trump said: "I like the prime minister very much. Prime Minister Trudeau. Nice guy. Good guy. No, I like him. But we had a meeting... He said, 'No, no, you have a trade surplus.' I said, 'No we don't.' He said, 'No, no you have a trade surplus."

NAFTA is an agreement which came into force from January 1994 by Canada, Mexico and United States creating a trilateral trade bloc in North America.

For more than two years, US President Trump criticised the agreement and also hinted to take some serious steps being in the administration or at least send some ultimatums.

Trump reportedly wants the treaty to be more fair.

Both Canada and the US differ in the climate change.

Amid the ongoing negotiations in the North Atlantic Free Trade Agreement (NAFTA), Canadian Foreign Affairs Minister Chrystia Freeland, in November, said the country can't agree to extreme proposals put forward by the US, media reports said.

After the fifth round of talk in Mexico city, Freeland told media: "There are some areas where some extreme proposals have been put forward, and these are proposals that we simply cannot agree to."

Freeland even said certain proposals could become detrimental to the Canadian auto-industry.

When asked about whether the country should look forward to have a future without NAFTA, Freeland told media, "..hope for the best and prepare for the worst and Canada is prepared for every eventuality".


(Reporting by Suman Das)

Image: facebook.com/DonaldTrump

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.