Canada Agrees To Join Trade Accord With US And Mexico; NAM Welcomes Trilateral Agreement
Monday, October 1, 2018
Posted by: Alyce Ryan
AICC, through its membership in the Council of Manufacturing Associations, is pleased to present the "Manufacturing Economic Daily Newsletter" from the NATIONAL ASSOCIATION OF MANUFACTURERS (NAM).
Canada Agrees To Join Trade Accord With US And Mexico; NAM Welcomes Trilateral Agreement.
The New York Times (9/30, Rappeport) reports that the US and Canada have reached “a last minute deal to salvage the North American Free Trade Agreement, according to people familiar with the negotiations, overcoming deep divisions to keep the 25-year-old trilateral pact intact.” The deal came after “a weekend of frantic talks to try and preserve” the trade pact, which “was in danger of collapsing amid deep divisions between President Trump and Canadian Prime Minister Justin Trudeau.” Business “groups cheered the deal on Sunday night.” Jay Timmons, President and CEO of the National Association of Manufacturers, said, “Manufacturers are extremely encouraged that our call for a trilateral agreement between the United States, Canada and Mexico has been answered.” The Los Angeles Times (9/30, Lee) and The Hill (9/30, Needham) also used the Timmons quote.
In the NAM statement (9/30), Timmons also said, “Today, there’s a massive amount of goods flowing across North America, meaning our countries’ economies are inextricably linked. What’s more, as the United States works to put an end to China’s cheating and unfair trade practices, we are better off united with our North American allies. We welcome the administration’s efforts to modernize this agreement and to create more opportunities for American manufacturing workers. As we review the agreement text, we will be looking to ensure that this deal opens markets, raises standards, provides enforcement and modernizes trade rules so that manufacturers across the United States can grow our economy.”
Reuters (9/30, Ljunggren) reports, “U.S. officials intend to sign the agreement with Canada and Mexico at the end of November, after which it would be submitted to the U.S. Congress for approval, a senior U.S. official said.”