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Bugs





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PostPosted: Mon Aug 27, 2018 10:24 am    Post subject: Trump announces trade deal, NAFTA name dropped Reply with quote

Quote:
Watch Live: Trump Announces Trade Deal With Mexico That Would Replace NAFTA
by Tyler Durden
Mon, 08/27/2018 - 11:05

* TRUMP SAYS WE ARE GOING TO CALL THIS THE UNITED STATES-MEXICO TRADE AGREEMENT, GETTING RID OF NAFTA NAME: RTRS
* PENA NIETO USES NAME NAFTA IN TALKING ABOUT TRADE DEAL
* U.S.-MEXICO DEAL WOULD SEE 40-45 PCT OF AUTO CONTENT MADE BY WORKERS EARNING AVERAGE BASE WAGE OF $16 PER HOUR - USTR OFFICIAL
* U.S.-MEXICO DEAL WOULD INCREASE U.S. AND REGIONAL CONTENT IN AUTOS TO 75 PCT FROM CURRENT 62.5 PCT

A Mexican official told CNBC on Monday that Nafta trade talks with the U.S. have wrapped up, and President Donald Trump has signed off on a bilateral agreement with Mexico to revamp the North American Free Trade Agreement; an announcement is expected later on Monday, according to Bloomberg.

“A big deal looking good with Mexico!” President Donald Trump tweeted earlier on Monday.


Quote:
Donald J. Trump

@realDonaldTrump
A big deal looking good with Mexico!

9:39 AM - Aug 27, 2018
36.5K
17.3K people are talking about this
Twitter Ads info and privacy
As the Mexican Economy Minister Ildefonso Guajardo entered the Washington office of the U.S. Trade Representative’s office where negotiations are going, he told reporters that there is one bilateral difference left to iron out. He declined to identify the issue.

And while Mexican negotiations may effectively be over, there is no deal reached yet with Canada. As has been the case over a year of intense and sometimes fractious negotiations to update the decades-old Nafta, it’s not the end of the road. But optimism is running high of salvaging the pact that Trump has threatened to scrap, Bloomberg adds.

The Mexican official also told CNBC the U.S. and Mexico have "reached understanding on key issues," adding that Canada will now "re-engage" in the negotiations. Canada has remained on the sidelines of trade talks recently while the U.S. aimed at first striking a deal with Mexico. [....]
https://www.zerohedge.com/news/2018-08-27/big-deal-looking-good-us-mexico-agree-nafta-pact


Freeland is spinning this like crazy. We have zero bargaining power now, am I wrong?

Bungled!
Bugs





Joined: 16 Dec 2009
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PostPosted: Mon Aug 27, 2018 10:37 am    Post subject: Reply with quote

Quote:
Nasdaq hits 8,000 for the first time as US and Mexico move closer to striking NAFTA deal
Fred Imbert | Ryan Browne
Published 6 Hours Ago Updated 9 Mins Ago
CNBC.com

Predictable market reaction to reduction in trade tensions Predictable market reaction to reduction in trade tensions
1 Hour Ago | 02:55
Stocks jumped on Monday as the United States and Mexico drew closer to a deal on NAFTA. Investors also digested reassuring comments from Federal Reserve Chair Jerome Powell on the central bank's policy-tightening path.

The Nasdaq Composite climbed 0.6 percent to an all-time high, breaking above 8,000 for the first time, as Facebook, Amazon, Netflix and Alphabet. The Dow Jones Industrial Average rose 214 points as Caterpillar outperformed. The S&P 500 gained 0.6 percent to hit a record high with materials and financials as the best-performing sectors.

"The market has been buffeted with a lot of headwinds lately, and the biggest one is trade," said Art Hogan, chief market strategist at B. Riley FBR. "If you were to take trade out of the picture, you would have a smoother ride higher in this market."

CNBC reported, citing a Mexican official, that trade talks between the U.S. and Canada had concluded and a NAFTA announcement could come later on Monday.

The comment comes after Mexican Economy Minister Ildefonso Guajardo said Sunday both countries were close to resolving key differences on trade. This would pave the way for a new deal between the two longtime trade partners. "We've continued making progress," Guajardo said.

President Donald Trump later tweeted that a deal with Mexico was "looking good."

Quote:
Donald J. Trump

@realDonaldTrump
A big deal looking good with Mexico!

9:39 AM - Aug 27, 2018
39.7K
18.8K people are talking about this
Twitter Ads info and privacy

Shares of Caterpillar and Boeing rose 2.5 percent and 1.3 percent, respectively. Their stocks are considered trade bellwethers because of their large exposure to overseas markets. Shares of Ford, General Motors and Fiat Chrysler also rose.

The Mexican peso rose 1.2 percent against the dollar. [....]
https://www.cnbc.com/2018/08/27/us-stocks-to-open-higher-after-powell-signals-further-rate-hikes.html


They're dancing in the streets in Mexico ... and in Canada, Freeland is spinning fiercely, as if any changes Canada will want won't face 2-1 oppositon!

Incompetence!
cosmostein





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PostPosted: Mon Aug 27, 2018 3:24 pm    Post subject: Reply with quote

The compromise that Mexico and the US reached on the Sunset clause was quite elegant.
Bugs





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PostPosted: Mon Aug 27, 2018 3:43 pm    Post subject: Reply with quote

Quote:
Trump Announces US-Mexico Trade Agreement As He Terminates NAFTA; Canada Left Out
by Tyler Durden
Mon, 08/27/2018 - 16:05

In a hastily arranged Oval Office conference with Mexican President Enrique Pena Nieto joining by speakerphone Trump announced that he is terminating NAFTA as it now stands and entering a different deal with Mexico, and possibly Canada if they want to negotiate "fairly." If not, Trump will slam tariffs on Canada’s cars.

During the conference, Trump said that: "They used to call it NAFTA, we’re going to call it the ‘United States Mexico Trade Agreement.’ We’ll get rid of the name NAFTA."

So it's the USMTA from now on, with a possible expansion to include Canada.

[....]

Nieto said he hoped Canada would soon be incorporated in the revised agreement, while Trump said that remains to be seen. As he announced the move, Trump said he would drop the name Nafta for the trade arrangement because of the bad connotations of a deal that has been criticized as contributing to the flow of jobs from the U.S. to Mexico. [....]
https://www.zerohedge.com/news/2018-08-27/big-deal-looking-good-us-mexico-agree-nafta-pact


Told yah!

I just looked over the Canadian coverage. They clearly are simply reportng the Freeland spin. The fact is there is no element of the Canadian negotiating strategy that is still in place! Mexico threw us under the bus and is pretending they didn't. What chance is there of a humiliating loss on supply management just to get to the table? What quid pro quo are they offering??? All the auto stuff is decided.

Tell me where I am wrong!
cosmostein





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PostPosted: Mon Aug 27, 2018 4:14 pm    Post subject: Reply with quote

Quote:
Foreign Affairs Minister Chrystia Freeland is on government business in Germany, but received updates from both the Americans and the Mexicans throughout the weekend.

"Given the encouraging announcement today of further bilateral progress between the U.S. and Mexico, Minister Freeland will travel to Washington, D.C., tomorrow to continue negotiations," said a spokesperson for her office. "We will only sign a new NAFTA that is good for Canada and good for the middle class."

"Canada's signature is required," Freeland's office emphasized.


https://www.cbc.ca/news/politics/nafta-us-mexico-progress-monday-1.4800182

Something somewhere is getting lost in translation;
If the President is effectively stating that NAFTA is done, then why does Freeland's office feel their sign off is required.
Bugs





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PostPosted: Tue Aug 28, 2018 7:57 am    Post subject: Reply with quote

From the article "Chrystia Freeland raised Trump’s ire with key speech" which describes the effects of one of Freeland's more antagonistic speeches where she actually campaigned against the President in a speech deliered in Washington! Big blunder.

Quote:
The Days Ahead

The Trudeau government believes this could be the most critical week yet in NAFTA negotiations and that a deal could be done by the end of the week.

The U.S.-Mexico trade deal announced Monday was welcomed by government officials and in public statements celebrated it as a sign of things to come for Canada. Sources say they believe Trump is willing to negotiate and so is Ottawa. [....]
https://globalnews.ca/news/4412338/analysis-chrystia-freeland-raised-trumps-ire-with-key-speech/


It looks to me as if the Canadian position has entirely collapsed, amd that the government is trying to spin the story as if they stepped aside so MExico and the USA could solve their problems first. What a load!

Is "supply-management" the hill they want to die on?
Bugs





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PostPosted: Tue Aug 28, 2018 9:44 am    Post subject: Reply with quote

Erin O'toole saying what Andrew should have been saying all along ... and O'Toole claims to have since whenever... Don't ask me, I never heard a whisper.

https://www.youtube.com/watch?v=9g6aLxRntZMX

The big questiom is --What would Scheer have done differently?

Last time I looked he was celebrating with the Milk Cartel!
Bugs





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PostPosted: Tue Aug 28, 2018 1:55 pm    Post subject: Reply with quote

Manny Montenegrino on the USA-Mexico Trade Agreement ...

https://www.youtube.com/watch?v=a76Bvdlg_Rc

The scale of this debacle is incredible. The only group that can defend the Trudeau government's approach to this is the Canadian media.

The commentator outlines a choice. If Trudeau tries to save the Milk Cartel, the auto industry will be hit with an almost immediate tariff. So the choice for Trudeau is a humiliating defeat or loss of auto jobs -- maybe for years.

He's not too good at being humble.

Freeland should resign. Andrew Scheer would make the same choice. That's why Bernier is, already, the only choice. We are in a terrible position.
cosmostein





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PostPosted: Tue Aug 28, 2018 3:55 pm    Post subject: Reply with quote

The Globe is reporting that Trudeau gave his team orders to wrap this quickly;

https://www.theglobeandmail.com/business/international-business/article-us-mexico-reach-nafta-breakthrough-clearing-way-for-canadas/

My biggest concern is that we will take a bad deal with terrible concessions simply to push this off of page one and devil in the details gets glossed over because *phew* we signed a deal.

I really do hope that any deal that is agreed to received the same scrutiny as every deal the last government signed.
Bugs





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PostPosted: Tue Aug 28, 2018 4:25 pm    Post subject: Reply with quote

As I read the situation, Trump is letting Canadians know that if we 'give up' supply management and accept the deal, everything will be gr-oo-vy ... BUT ... if Trudeau keeps accept that, there will be an immediate tariff on Canadian auto exports.

As it is we will have to accept a trade deal we have had no part in negotiating.

If Trudeau doesn't quit his bullshit, those tariffs will stay on until Canada gives way on something else.

Trudeau has to capitulate to save the auto jobs. That simple.

The question is -- will he? Or is his ego too large to allow him to take a loss? Let's hope he capitulates, and give him some credit if he does. And then we should ask for his resignation.
Toronto Centre





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PostPosted: Tue Aug 28, 2018 5:28 pm    Post subject: Reply with quote

NAFTA will be signed on Friday...by all three.

Supply management should survive, unless the US agrees to drop the $17B they pay to egg/dairy farmers,
Of course we could drop it and then turn around and pay subsidies to our egg farmers. No way is CDA going to let the farmers go broke since the US way over produces dairy .

So...I pay or our govt pays. Meh.

VP Pence has always strong armed Trump to sign on NAFTA. He would never be allowed to go home to Indiana if Trump doesnt sign.

Glad to see the orange monkey doesnt know the colours of the US flag. Real bright guy there huh?
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Trump announces trade deal, NAFTA name dropped

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