Washington | Reuters — The United States drew a hard line for renegotiating the North American Free Trade Agreement on Wednesday, demanding major concessions aimed at slashing U.S. trade deficits with Mexico and Canada and boosting U.S. content for autos. At the start of talks in Washington, U.S. President Donald Trump’s top trade adviser, Robert […] Read more
U.S. takes tough lines as NAFTA negotiations begin
Canada, Mexico urge quick NAFTA talks to end uncertainty
Washington/Ottawa | Reuters — Top Canadian and Mexican diplomats expressed optimism on Thursday that a NAFTA deal could be reached early next year and cautioned that widespread uncertainty over the future of the three-way trade agreement had slowed business investment. Mexican sources say the plan is to hold seven rounds of talks at three-week intervals, […] Read more
Pacific trade bloc adds ‘associate’ members, including Canada
Cali, Colombia | Reuters –– Four new countries will be admitted to the Pacific Alliance as associate members, the trade group said on Thursday, as it seeks to expand commerce with the Asia-Pacific region while the U.S. pushes for protectionist measures. The alliance, which comprises Colombia, Chile, Mexico and Peru, will on Friday admit Singapore, […] Read more
Mexico gives conditional approval to Dow, DuPont merger
Mexico City | Reuters — Mexico’s antitrust watchdog said Tuesday it has given approval to DuPont and Dow Chemical to merge on the condition that they sell certain crop protection products and other assets. The asset sales required by Mexico’s Federal Economic Competition Commission (Cofece) is similar to what U.S. antitrust enforcers asked of the […] Read more
Trump administration triggers launch of NAFTA renegotiations
Washington | Reuters — The Trump administration on Thursday formally launched its effort to renegotiate the North American Free Trade Agreement with Canada and Mexico to try to win better terms for U.S. workers and manufacturers. With a letter to U.S. lawmakers, U.S. Trade Representative Robert Lighthizer said he triggered a 90-day consultation period with […] Read more
U.S. grains: Corn tumbles on weather forecasts, NAFTA jitters
Chicago | Reuters –– U.S. corn futures fell more than one per cent Wednesday on forecasts for better Midwest planting weather and news that the White House is considering an executive order on withdrawing from North American Free Trade Agreement, analysts said. Soybeans also declined and wheat turned lower as corn sagged. Chicago Board of […] Read more
China clears ChemChina’s Syngenta deal
Zurich | Reuters — ChemChina’s US$43 billion planned takeover of Swiss pesticides and seeds group Syngenta has received approval from China’s Ministry of Commerce (MOFCOM), the two companies said Wednesday. “This represents a further step towards the closing of the transaction, which is expected to take place in the second quarter of 2017,” they said […] Read more
Durum lacks momentum ahead of competing harvests
CNS Canada — Canadian durum prices are at a standstill as the market looks to upcoming production, while domestic crops act as a “wild card,” one Winnipeg-based analyst says. “The durum market is certainly quiet right now. We’re kind of in that period where we’re in a lull,” said Jerry Klassen, manager of the Canadian […] Read more
U.S. Commerce chief sees no major NAFTA talks until later this year
Washington | Reuters — U.S. Commerce Secretary Wilbur Ross said Wednesday that substantial negotiations to revamp the North American Free Trade Agreement likely will not get started until the latter part of this year and could take a year to complete. Ross, speaking to Bloomberg Television, said U.S. legal notification requirements with partners Mexico and […] Read more
Mexico will only stay in NAFTA if it suits it, minister says
Mexico City | Reuters — A defiant Mexico said on Tuesday it would only stay in NAFTA if it suited it and rejected the imposition of any tariffs or quotas when renegotiating the trade deal U.S President Donald Trump wants to recast to benefit the United States. Trump has vowed to exit the North American […] Read more
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