Trump announces 'incredible' trade deal with Mexico


"Once the bilateral issues get resolved, Canada will be joining the talks to work on both bilateral issues and our trilateral issues", Chrystia Freeland, Canada's foreign minister, said Friday.

"It is nothing more than an agreement between only two of the three countries party to NAFTA to just begin renegotiating trade relations and hopefully end the trade war Republicans created and have done nothing to stop", Corson said.

"Enrique?" Trump said into the speakerphone, as pool cameras whirred in front of him.

The latter is more likely. The negotiations were "difficult" at times, Peña Nieto said, but added that the new framework would boost productivity in North America.

Canada is eager to get back to the negotiating table, but the White House is applying pressure with its "take it or leave it" stance, said Avery Shenfeld, the managing director and chief economist at the Canadian Imperial Bank of Commerce. Trump says, "If they'd like to negotiate fairly, we'll do that".

"Canada is [now] going to be presented with more of a take-it-or-leave-it offer", CIBC Economics analyst Avery Shenfeld said. He mentioned this in the same breath as dangling the possibility of auto tariffs to punish Canada.

"While the Iranian sanctions issue certainly isn't new news, suggestions out of the White House that waivers will be restricted appeared to augment last week's price gains", said Jim Ritterbusch, president of Ritterbusch and Associates, said in a note.

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"He did push for this", Acevedo said, adding that Mexico apparently likes the deal because the Peso gained a slight bit in the currency market. Canada wants to keep them and Lighthizer wants to bin them. "It's no longer what the United States was putting first in any way."The decades-old trilateral trade agreement has been a frequent target of Trump, who has criticized large trade deficits the USA has with Mexico and Canada, as well as the relocation of American jobs and companies". Auto stocks continued to rally, adding 1.3 per cent after enjoying their best day in a month on Monday - German carmakers rely on smooth trade between Mexico and the United States to sell Mexican-assembled vehicles into USA markets.

Trump said he would speak with Canadian Prime Minister Justin Trudeau "in a little while", adding that he hoped Canada and the United States could begin talks to resolve their own bilateral issues subsumed under NAFTA "almost immediately".

That could be big news for US property developers.

"We're encouraged by news that the White House is edging closer to an agreement on NAFTA and look forward to getting more specifics about this agreement soon", AFP President Tim Phillips and Freedom Partners Executive Vice President Nathan Nascimento said in a joint statement "The devil is in the details, and we are concerned by reports that the agreement may contain protectionist country-of-origin requirements that create, rather than dismantle, barriers to free trade".

Shares of the largest U.S. automakers got a boost Monday after President Donald Trump said the USA and Mexico have reached an agreement on elements of NAFTA, marking a significant step toward reshaping the landmark trade deal. "I hope it has been worth it, a maneuver that, to put it politely, does not do us honor".

Mexico's President Enrique Pena Nieto spoke to Canada's Prime Minister Justin Trudeau on Monday and urged Ottawa to rapidly rejoin the talks with the goal of getting a final NAFTA rewrite this week. As usual, they agreed to speak on condition they not be named. They'll use regulation to favor domestic competitors", the editors wrote, with the warning, "Believe it or not, this was a Trump-Lighthizer demand: They figure that if US companies are more vulnerable to foreign abuse, CEOs will keep their money at home.