U.S., Mexico reach NAFTA deal, turn up pressure on Canada The Saigon Times Daily Mexico’s Foreign Minister Luis Videgaray (C), Mexico’s Economy Minister Ildefonso Guajardo (3rd, R), White House chief economic adviser Larry Kudlow (3rd, R-standing) and Jesus Seade (R), Mexico’s President-elect Obrador’s representative in trade negotiations look on as U.S. President Donald Trump (L) announces a deal to replace the North American Free Trade Agreement (NAFTA) at the White House in Washington, U.S., August 27, 2018 – PHOTO: REUTERS WASHINGTON (REUTERS) – The United States and Mexico agreed on Monday to overhaul the North American Free Trade Agreement (NAFTA), putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-nation pact. Auto stocks soared and the S&P 500 and the Nasdaq rallied to record highs on the expectation that Canada would sign onto the deal and ease the economic uncertainty caused by U.S. President Donald Trump’s repeated threats to ditch the 1994 accord. Details of gains and concessions in the deal were only starting to emerge on Monday. Trump threatened he still could put tariffs on Canadian-made cars if Canada did not join its neighbors and warned he expected concessions on Canada’s dairy protections. “I think with Canada, frankly, the easiest we can do is to tariff their cars coming in. It’s a tremendous amount of money and it’s a very simple negotiation. It could end in one day and we take in a lot of money the… [Read full story]
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