GFM Network News

U.S. Senate passes CUSMA trade deal

Washington | Reuters -- The U.S. Senate on Thursday approved a revamp of the 26-year-old North American Free Trade Agreement that includes tougher rules on labour and automotive content but leaves US$1.2 trillion in annual U.S.-Mexico-Canada trade flows largely unchanged. The legislation for the U.S.-Mexico-Canada Agreement (CUSMA) passed on an 89-10 bipartisan vote, sending the[...]

Trudeau says good NAFTA deal wanted soon, hazy on deadline

Saskatoon | Reuters -- Canadian Prime Minister Justin Trudeau said Thursday he wanted a good NAFTA deal as soon as possible, but did not answer directly when asked if he agreed with Washington that the end of September was the final deadline for talks. Canada and the U.S. are struggling to settle differences over access[...]

U.S. livestock: CME lean hogs sag on uncertainty over trade talks

Chicago | Reuters -- U.S. hog futures sagged on Wednesday for a third straight session on a perceived lack of progress in U.S. trade negotiations with key pork consumers China and Mexico, traders said. CME Group live cattle futures followed hogs lower, with burdensome supplies adding pressure. Most-active CME October lean hog futures settled down[...]

Trump says 'getting there' in NAFTA talks

Washington | Reuters -- U.S. President Donald Trump said on Tuesday progress was being made in slow-moving talks to update the NAFTA trade accord between the U.S., Canada and Mexico, but he held out the prospect of striking bilateral pacts if a three-way deal could not be reached. "We're trying to equalize it. It's not[...]

Mexico hits back on U.S. steel, slaps tariffs on pork, bourbon

Mexico City | Reuters -- Mexico responded in kind to U.S. President Donald Trump's metals tariffs by imposing its own duties on U.S. steel on Tuesday, while also targeting politically sensitive agricultural products from pork to bourbon. Mexico's peso tumbled to its weakest level since February 2017, leading losses among major currencies due to the[...]

U.S. to take another look at Pacific trade pact

Washington | Reuters -- U.S. President Donald Trump has asked his trade advisers to look at rejoining the Trans-Pacific Partnership, a multinational trade pact he withdrew the U.S. from last year, White House spokeswoman Lindsay Walters said. Republican senators met with Trump on Thursday and he told them that he has asked U.S. Trade Representative[...]

Trade bloc Mercosur, Canada launch talks for trade deal

Asuncion| Reuters -- South American trade bloc Mercosur formally launched discussions for a trade deal with Canada on Friday, in a move officials said would signal an embrace of free trade at a time other countries are moving toward protectionist policies. For Canada, the talks with the group, which includes Argentina, Brazil, Paraguay and Uruguay,[...]

Canada welcomes Trump suggestion of NAFTA deadline extension

London, Ont. | Reuters -- Canada welcomes the suggestion by U.S. President Donald Trump that the deadline for concluding talks to modernize NAFTA could be extended beyond the end of March, Foreign Minister Chrystia Freeland told reporters on Friday. Trump told the Wall Street Journal on Thursday that "a lot of things are hard to[...]

TPP talks without U.S. near final stretch

Urayasu, Japan | Reuters -- The 11 remaining nations in the Trans-Pacific Partnership (TPP) without the United States edged toward sealing a comprehensive free trade pact after New Zealand agreed to amend laws that are not subject to TPP, to enable its ban on foreign home purchases. The pact aims to eliminate tariffs on industrial[...]

U.S. now seeking end to supply management in NAFTA talks

Arlington, Va. | Reuters -- U.S. negotiators at talks to update the North American Free Trade Agreement want Canada to dismantle its system of protections for the dairy and poultry sectors -- a move Ottawa will reject, a source briefed on the matter said on Monday. The proposal is the latest in a string of[...]