Mexico, Canada Said To "Firmly Reject" US NAFTA Proposals

Tyler Durden's picture

It appears that Trump's attempt to ram through a sweeping NAFTA renegotiation is about to hit its first major roadblock: according to CNBC, top trade negotiators from Canada and Mexico will meet Tuesday with the U.S. Trade Representative, Robert Lighthizer, and firmly reject the U.S. proposals floated in the current round of NAFTA negotiations, citing two people briefed on the countries' positioning.

Still, Canada and Mexico will not walk away from the negotiating table altogether, despite an outright rejection of the U.S. protectionist demands, which will leave the ball in the U.S.' court.

Some more details from CNBC:

Talks among staff negotiators from the three countries concluded Monday. A meeting among Canada's Foreign Minister Chrysita Freeland, Mexico's Economy Minister Ildefonso Guajardo and Lighthizer will take place Tuesday, followed by a joint statement at 3 p.m. ET.

 

U.S. lawmakers and business trade groups have aligned themselves with Canada and Mexico in wanting to preserve the deal. It remains to be seen how President Donald Trump, who has repeatedly slammed the 23-year-old trade agreement, will react to the position.

Following the news, both the loonie and the peso slid to lows, as the question of how Trump reacts to this latest snub becomes a key concern for North American trade.

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Albertarocks's picture

Correction, the reaction from Mexico and Canada is not a "snub".  Why in hell would you characterise a legitimate stance as a "snub"?  Can you stoop any lower?

tmosley's picture

>Mexico and Canada fail to negotiate

>The US pulls out of the deal

Mwahaha.

HenryKissingerZuckerberg's picture

but but but whatabout globalism???

IH8OBAMA's picture

If it can't be made fair for the U.S. then just scrap it.  They'll be back at the table before Trump finishes his 1st term.

 

 

Stuck on Zero's picture

Why are we worried about Canada and Mexico. They are neighbors. We should be concentrating trade attention on Asia.

Justin Case's picture

concentrating trade attention on Asia

Why? That's where all the merican companies operate from.

Gaius Frakkin' Baltar's picture

Good, let it be dead then. China will be next.

CheapBastard's picture

Mexico and Canada hates Trump putting American citizens' interests over foreigners and illegals.

"Up their nose with a rubber hose," is what my neighbor says.

IH8OBAMA's picture

"Up their nose with a rubber hose,"

Then turn on the gas and light a match!

cheka's picture

tariff that sh-t.  or continue to get bled out by nyc skype

deer_flasher's picture

More US businesses die off... It's kinda sad to see the little guy getting hammered over this

http://www.epbusinessjournal.com/2017/03/dannys-restaurant-closes-for-bu...

Five Star's picture

The US trade decifit with China is bigger than with all other countries combined. 

http://thesoundingline.com/us-trade-deficit/

NoDebt's picture

Does anyone care WHY free trade deals with the US only seem to work one way (against us)?  I mean, I'll give you the nickel tour here, but I really doubt anyone gives a shit:

The US has practically no tariffs on incoming goods in the first place.  I think the average floats around 3.5% or thereabouts.  Most other countries it's 15, 20, 25% or more.

WE HAVE NOTHING TO NEGOTIATE WITH.  They get free access, we get left holding our dick in our hands.

Want to see a MEANINGFUL free trade deals?  Raise our tariffs (or Border Adjustment Tax- whatever you feel like calling it) to 20%.  They will be lining up all the way down the block to sign free trade deals with us then.  And we'll actually get something for it, unlike now.

 

 

Philo Beddoe's picture

Call me a prick but if it is just Canada USA that is fine with me. Most of the shit from Canada is just raw resources (important..but not really crimping the manufacturing sector). Not too many Canadians mowing lawns and throwing up drywall in the ole USA either. 

cheka's picture

use tariff revenue to reduce income tax on WAGES, not skype scam capital gains

Defiated's picture

You Yanks want it both ways...Tariffs!...BUT....'Low Prices on cheap Chinese Junk'!!!!

John Kerry-Heinz's picture

It can't possibly be true.  Did the prosperous countries of Canada and Mayhico just inadvertently admit they need the US international affirmative action legislation known as NAFTA to compete?

FREE SHITTERS

Northoftheborder's picture

NAFTA benefits Mexico, not Canada. We've been bleeding jobs to both the US and Mexico since it was signed.

 

If people remember, it was someone's idea of how to lift Mexico up so their people would stop streaming over the southern US border.

It's certainly uplifted the country, but the people continue to stream in.

 

It can't die soon enough IMHO.

superyankee's picture

As a fellow Canadian, I feel obligated to call bullshit on this statement.

Here are some basic economic truths. At an individual level, trade is always beneficial to both the buyer and seller, otherwise neither would engage in the transaction. On an aggregate level, absence of trade barriers and tariffs always results in more high paying jobs and cheaper shit for citizens in both trading countries.

Canada and the USA both reap amazing economic benefits from NAFTA. Each is the other's largest trading partner. More trade equals more prosperity for everyone, period. The more governments fuck with everything, the poorer we all become.

So sick of the comments being posted here by ignorant libtards from both Canada and the US saying NAFTA should be scrapped.

robertocarlos's picture

We need to protect our food suppliers. The Americans would put them out of business.

skipjack's picture

Hi Tom Donohue, nice to see you posting here.

 

NAFTA is a one-way deal that cripples the US and sucks it dry. The ONLY reason the US elites want to keep it is because it grossly benefits upper management of US multinational corporations, and kills the US middle class. That's the ONLY reason it still exists, not because a nimrod like you squeals that it benefits all concerned. Next thing you'll claim is that it supports "free" trade bwahahaha! Good one, a shame we know better.

 

Stuff your "always results in more high paying jobs and cheaper shit for citizens in both trading countries" right back up your ass where it came from. Ask the US middle class and the US skilled blue collar workers where their "high-paying jobs" went over the past 20 years, you fucking moron. Ross Perot was always right.

superyankee's picture

Your manufacturing jobs all went to Southeast Asia. Now you're blaming that on NAFTA. Genius.

Justin Case's picture

merican junk made in China.

Gaius Frakkin' Baltar's picture

Who wants Chinese junk? We're fucking sick of it.

Higher wages, higher quality is the future.

deer_flasher's picture

Less regulation you should say, that's what keeps the cost of thing up, higher wages must be earned... On a side note, which brand of tools you guys use? If any? I prefer wright-grip wrenches

1 Alabama's picture

that was the whole point of the agreement, holding dicks in hand, we all agreed it was the right thing to do, now 20% tarrifs? sign me up

Usura's picture

Looks like Trump is being out "negotiated"

skipjack's picture

Looks like you're a fucking moron

truthalwayswinsout's picture

Free trade is a very simple concept. No barriers and no games.

The U.S. has always honored its trade agreements with no barriers and no games but everyone else has fucked us with nothing but barriers and games in exporting goods to their countries and setting up businesses in their countries.

Now the US wants to even the playing field and everyone calls that bad for trade.

What fucking planet do these people live on? And how stupid do they think we are? or better yet how easily bribable are our politicians who put together such deals?

 

brushhog's picture

Its "bad for trade" because a whole trade industry has grown up around exporting US jobs and wealth.

Justin Case's picture

Cost cutting and higher profits abroad. Less red tape and plenty of cheap labor.

LawsofPhysics's picture

Well considering that we still accept bullshit Chinese paper/Yuan and we gave them a DIRECT LINE TO THE TREASURY PAPER, it has actually become very easy for us to be "bribed" and "bought".  In fact the Chinese are buying more of our assets and our ASS everyday!!!

Good luck with that cognative dissonance!

"Full Faith and Credit"

brushhog's picture

Scrap the whole thing. It has DEVASTATED the US job market. 30% Tariffs on every single good coming into the country. In 50 years, when the US has recovered we might consider a slight reduction.

City_Of_Champyinz's picture

The piece of shit factory owners who shipped the jobs down to the corrupt shithole known as Mexico seem to be doing pretty well. 

Defiated's picture

yup..and they were on the 'Donald's'..."Make America Great Again"..jobs advisory panel...The Irony is 'PERFECT'!

deer_flasher's picture

Thing is, most of the devastated jobs no longer exist anymore, anywhere. I'd like to see a single tarif, 20% tax between Canada-US-Mexico, americans are meant to do higher value work, so are canadians. Leave the grunt work to us mexicans, we can live off rather cheaply and happily, when you got nothing, life is kinda easier. And get your government to stop wasting money on defense shit, the 1 trillion dollar failure of the f35 to name a few, get your boys back home from all the stupid-ass wars the politicians create, and deal with drug addiction across, and you bet the immigration will slow down, drug violence in mexico will cease and canadians... well, canadians will be canadians xD

Recriminator's picture

Now I know the meaning of "babbling idiot" . . . . Simply put, if we "exported' 20-30 million of our poor people to Canada, our economy and our Federal budget would be fine again. The PIOUS liberal Canadians are in for a big surprise with their current immigration policies. Mexico will soon have big internal problems when they no longer have a dumping ground for their poor.

If we sat down thirty years ago, and asked what the most serious problems were on the horizon, the answer would be - how to handle and minimize "unskilled labor" (high school droupouts). So, under Liberal / Socialist leadership in Congress what do we do ? Allow 30-40 million unskilled Mexicans into the U.S.  

CRAZY FACT - in the 80's and 90's it became obvious to the Democrat Party that we didn't have enough poverty - to maintain there dependent class. The simple answer was / is - just import more poor people. Dependency brings Democrat votes ! ! !

skipjack's picture

<B>how to handle and minimize "unskilled labor" (high school droupouts)</b>

 

Simple. Open up trade schools like the ones that closed 30 years ago, let non-academic kids at age 13 and up attend them, and a bored, low IQ but functional worker is made. Look up the definition of "average". It used to be said that college was suited for those with IQs of 120 and above. Then the Clintons/Bushes/Obummers came along and decided all children should go, thereby pulling down those who would benefit.

 

I shake my head at all the waste I see around me.

deer_flasher's picture

Speaking of babbling idiocy... You realize I agree with the immigration policies put forth here, even thought I'm from mexico(don't confuse mexicans with mexas, we don't like those losers either, but you can send them back, we are cool with it)? Can you even comprehend what is being discussed here snowflake? Far from a liberal and not even close to conservative (both sucks), more like a libertarian, I prefer government to fuck off my life, spend less on military to fight enemies they created and be left alone to do as I please with my money, in this case, my business.

I buy USA made cutting tools for my machineshop/integration company, cause I can't risk saving a couple dollars and wrecking an expensive part. Problem with negotiations as they are now, will cripple small business trying to export their products freely (in the case of my supplier, a small business in oregon, cutting tools), in the case of a BAT implementation, things from mexico will be more expensive to export to the US indeed, but the other countries will retaliate, making it more expensive to import stuff to mexico. If that happens, my cutting needs will be more expensive to buy from the USA and will force me to look elsewhere for someone willing to do business with me, most probably china, because, the tariffs imposed will now make it worth the risk to wrecking a part for saving money in a CHINA vs USA Endmill.

On the other hand, big corporations will find a way around anyway. Wake up

Ghost of Porky's picture

The mexicans can just tunnel all the way through to Canada then.

Silversides's picture

We'll trade you Justin Trudeau for a case of Budweiser and a pack of Marlboroughs....there, we the people can do our own deals...hell we'll throw in Justin Beiber as well

Gert_B_Frobe's picture

Okay, agreed, but ...

You have to take ALL the whiney bitches that said they were going to move out of the US if Trump won.

Stan Smith's picture

Yeah, this should end well.

LawsofPhysics's picture

Okay fine, hardly matters now that the U.S.S.A. is effectively Nationalizing everything, of course "we the people" will have to fight for our share after the corporate owners have bought everything for pennies on the dollar...

"Full Faith and Credit"

 

Justin Case's picture

Capitalism is a society where billionaire capitalists own vast companies, banks, shares, and much of the land as well. Elected governments are bent to the will of the big corporations which the capitalists own. To achieve genuine socialism, this ownership of the world's wealth by the 1% must be ended. Capitalism means that a great deal of our society's resources, needed to produce the things we need, are privately owned.

Capitalism is based on the private ownership of the productive forces (factories, offices, science and technique)

The bosses of the big corporate enterprises always threaten that if wages and conditions are not worsened, they will take their business to another country where wages are lower.

Sizzurp's picture

Surprise surprise, Canada and Mexico are perfectly happy with the status quo.  

2banana's picture

That is fine.

The US now leaves NAFTA.

Another DJT promise kept.

Have fun with those factories on the Mexican border!

BritBob's picture

And the UK was thinking about joining NAFTA if they didn't get a deal from the EU. 

Zepper's picture

Seriously, NAFTA is basically welfare for Canada and Mexico. The U.S. has lost out Trillions of dollars since its inception. Scrap the fucking thing already. It is only giving free money to Canada. A country that is as misandrist, backstabbing as they come. Mexico is Canada but infinitely worse. That country needs to be Porto Rico'd until nothing lives there.