Economy

Canadian online shoppers may benefit from new trade agreement

Canadian online shoppers may benefit from new trade agreement

Canada, buoyed by a last-minute continental trade deal it sealed with the United States and Mexico, is pressing Washington to remove steel and aluminum tariffs, senior Canadian officials said on Monday.

The agreement, reached on Sunday night, protects Canada's automotive industry from potentially devastating USA tariffs, but includes no assurance that Washington will lift punitive measures it imposed on Canadian and Mexican steel and aluminum in June.

"Any trade agreement proposal must be judged by whether it improves the wages, working conditions and well-being of America's workers and farmers", House Democratic Leader Nancy Pelosi said in a statement.

Peter Navarro, White House trade adviser, said on Sunday Morning Futures, that the goal for the agreement is to restore "North America as a manufacturing powerhouse". "Class 7 milk pricing in Canada caused problems for USA manufacturers in two different ways", said Eric Meyer, the president of HighGround Dairy in Chicago. That started a 90-day clock that would let outgoing Mexican President Enrique Pena Nieto sign the new pact before he leaves office December 1. The two sides were hoping to finalize the pact overnight ahead of an announcement on Monday, The Globe and Mail said.

President Trump has long threatened to pull the United States from NAFTA.

After more than a year of talks, and six weeks of intense discussions, the governments were able to overcome their differences with both sides conceding some ground, but both hailing the agreement as a good deal for their citizens in the region of 500 million residents that conducts about $1 trillion in trade a year.

"But for 25 years as a civilian and businessman I used to say, 'How could anyone sign such an agreement?' With this agreement we are closing all of these awful loopholes, they're closed, they're gone".

President Trump has repeatedly criticized Canada on social media for the Class 7 system, which applies to ultra-filtered milk, a high-protein product used in making cheese and yogurt.

Canada and the United States have reached a last-minute free trade deal to revamp the long-standing NAFTA pact between the two countries and Mexico. Canadian, U.S. and Mexican politicians have been negotiating for months over what to keep, what to lose and what to compromise within the agreement, which oversees all trade relations between the three countries.

Trudeau would only say it was a "good day for Canada" as he left a late-night cabinet meeting in Ottawa that capped several days of frenetic long-distance talks.

More news: SEC Lawsuit Against Musk Wiped $7.3 Billion From Tesla’s Market Value

"I plan to sign the agreement by the end of November".

"And I'm not talking about Mexico, Canada".

"For the most part, this was a defensive deal for Canada", he said in an interview. "Versus a very unpredictable and protectionist US administration, I think Canada did as well as it could".

He says the province does $389 billion worth of trade per year with the U.S.

The agreement preserved a NAFTA dispute-resolution process that the USA wanted to jettison, the official told The Associated Press ahead of an official announcement.

"That remains to be seen", said Ralston, who added that Australia, for example, could take its World Trade Organization complaint on the wine issue to the Canadian government to try to negotiate a similar deal. The official was not authorized to speak publicly and requested anonymity.

Canada has offered access to its tightly controlled dairy market as part of other recent trade agreements.

The Trump administration had threatened to proceed with a Mexico-only trade pact as US talks with Canada foundered.

The agreement is still awaiting ratification in all three countries, but for consumers in B.C. we'll soon see some changes to where we can buy USA wine, in USA dairy-product selection and duty-free limits.

Freeland also touched on U.S. President Donald Trump's apparent dislike of her, something thrust into the open recently when Trump told reporters in New York: "We're very unhappy with the negotiations and the negotiating style of Canada".