GFM Network News

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[...]

Freeland to visit Washington this week for NAFTA talks

Ottawa | Reuters -- Canada's Foreign Affairs Minister Chrystia Freeland will visit Washington this week in another bid to help unblock talks on the North American Free Trade Agreement, a spokesman said on Monday. Freeland will be in Washington on Tuesday and Wednesday, said spokesman Adam Austen. The U.S., Mexico and Canada are struggling to[...]

U.S. livestock: CME hogs slump amid fund roll, NAFTA worries

Chicago | Reuters -- Chicago Mercantile Exchange lean hog futures finished lower on Friday, hit by the "roll" by funds into deferred months and uneasiness over North American Free Trade Agreement (NAFTA) talks, said traders. "NAFTA fears, Goldman roll and premiums to the cash prices. Everyone who bought futures this week decided to dump them[...]

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,[...]

Montreal round of NAFTA talks extended to Jan. 29

Mexico City | Reuters -- The upcoming round of talks in Montreal to update the North American Free Trade Agreement (NAFTA) will be extended by one day and will now conclude Jan. 29, Canadian and Mexican sources told Reuters on Thursday. Trade negotiators from the U.S., Canada and Mexico were originally scheduled to meet from[...]

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[...]

U.S. makes NAFTA dairy proposal, no market access request

Arlington, Va. | Reuters -- U.S. negotiators at talks to renew the North American Free Trade Agreement on Friday formally asked Canada to address a bilateral dispute over dairy pricing, a request the Canadians are set to resist, sources familiar with the talks said. U.S. dairy producers are unhappy that Canadian farmers this year started[...]