GFM Network News

CUSMA pact takes effect under cloud of disputes, COVID-19

Washington/Mexico City/Ottawa | Reuters -- A modernized U.S.-Mexico-Canada trade pact took effect on Wednesday, ensuring continuity for manufacturers and agriculture, but the threat of disputes is exposing cracks in what was meant to be a stronger North American fortress of competitiveness. As the deal kicks in, the Trump administration is threatening Canada with new aluminum[...]

Parliament hustles through CUSMA ratification

Ottawa | Reuters -- Canada's Parliament rushed through ratification of the new Canada-U.S.-Mexico (CUSMA) trade pact on Friday before taking a three-week break to help stop the spread of the coronavirus, a top government official said. Canada was the last of the three signatories to formally adopt the pact, prompting congratulations from the United States[...]

Opposition MPs could delay CUSMA deal's ratification

Ottawa | Reuters -- Canada's two main opposition parties on Wednesday suggested they could move to delay ratification of a new continental trade pact, accusing the Liberal government of botching revisions to the treaty. Such a move would embarrass Prime Minister Justin Trudeau, who has vowed that Parliament will quickly approve the U.S.-Mexico-Canada Agreement (CUSMA).[...]

Mexico, Canada plow ahead on trade pact ratification despite Trump threats

Mexico City/Ottawa | Reuters -- Mexico and Canada said on Friday they would proceed with plans to ratify a new continental trade pact despite a new threat from U.S. President Donald Trump that critics say could undermine chances of the treaty coming into force. Trump, whose administration has made passing the United States-Mexico-Canada (USMCA) free[...]

Trudeau takes Quebec dairy gamble to preserve big trade deal

Ottawa/Montreal | Reuters -- With his political future at stake, Canadian Prime Minister Justin Trudeau will mount a charm offensive to placate dairy farmers who say he sold them out in order to win approval of a continental trade deal. Compounding Trudeau's challenges in the influential province of Quebec, where many dairy farmers are based,[...]

Canada, U.S. deal saves NAFTA as trilateral pact

Ottawa/Washington | Reuters -- The U.S. and Canada forged a last-gasp deal on Sunday to salvage NAFTA as a trilateral pact with Mexico, rescuing a three-country, US$1.2 trillion open-trade zone that had been about to collapse after nearly a quarter century. In a big victory for his agenda to shake up an era of global[...]

Canada, U.S. reach deal to update NAFTA, sources say

Ottawa/Washington | Reuters -- The U.S. and Canada reached a deal to update NAFTA and keep it a trilateral pact with Mexico, beating a midnight deadline with agreements to boost U.S. access to Canada's dairy market and protect Canada from possible U.S. autos tariffs, two Canadian sources with direct knowledge of the talks said on[...]

Canada sticks to plan to stay at NAFTA talks despite Trump attack

Ottawa | Reuters -- Canada on Thursday shrugged off U.S. President Donald Trump's criticism that talks to modernize NAFTA were moving too slowly and made clear it had to keep negotiating as long as there was a chance of success. The prospects for a quick deal to update the North American Free Trade Agreement appeared[...]

NAFTA talks grind on with little sign of deal

Washington | Reuters -- Canada and the U.S. showed scant sign of being close to striking a deal on revamping the trilateral NAFTA that underpins US$1.2 trillion in annual trade, as Canadian sources played down talk of a U.S. quota on autos. Canada says it does not feel bound by a U.S.-imposed deadline for the[...]

Trudeau urges some U.S. flexibility in NAFTA talks

Washington/Ottawa | Reuters -- Canadian Prime Minister Justin Trudeau said on Wednesday he wanted to see flexibility from the U.S. if the two sides are to reach a deal on renewing NAFTA, which Washington insists must be finished by the end of the month. Ottawa is pushing back against increasing pressure by the administration of[...]