Senators Appeal Once More to Trump on NAFTA

USDA undersecretary Ted Mc Kinney addresses AFBF

Canada's main stock index continued down Wednesday when Canada is increasingly convinced the United States will withdraw from the North American Free Trade Agreement.

"A primary discussion point was the negative impact a withdrawal would have on economic and stock market momentum", the report said.

In keeping with his campaign promise, Trump forced Canada and Mexico to sit down and renegotiate the 1994 trade pact, and said if a deal could not be reached he would withdraw the United States from NAFTA. "A US withdrawal from NAFTA would cost the USA pork industry $1.5 billion". Canada has been pushing Nafta's USA defenders to speak up to save the pact - the officials' comments Wednesday may add domestic pressure on Mr Trump to not issue the withdrawal notice.

With Canada and Mexico objecting to major changes that Washington wants in NAFTA, time is running out to settle differences before the negotiations are scheduled to wrap up at the end of March.


U.S. Trade Representative Robert Lighthizer was quick to label Canada's complaint as bad for the bilateral relationship.

Reports of NAFTA's possible demise, meanwhile, sent the Canadian and Mexican currencies tumbling, and the United States dollar rising from Can$1.2432 at 1200 GMT to Can$1.2554 at around 2030 GMT.

- How has the market performed over the last five years? A withdrawal notice doesn't mean Nafta would be killed - a country can give notice and then not actually leave. Canada is ramping up the outreach effort because "while we are doing a better job of this, and getting people's attention, we are not where we need to be", MacNaughton said. The Canadian officials said Wednesday they were not sure how Mexico would react to any withdrawal notice, but that Canada would keep negotiating after one was given.

Mr Shenfeld sees the loonie falling to 75 U.S. cents and Mr Poloz slowing the pace of hikes if Mr Trump ultimately quits.

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