US President Donald Trump’s announcement of a
so-called bilateral big deal with Mexico was not enough to spur
Canada into accepting renegotiated terms for the North American
Free Trade Alliance (Nafta).
All three countries failed to agree new terms before the
self-imposed deadline of August 31, meaning that the existing
international trade treaty remains in place. But the
negotiations between the US and Mexico have recently taken a
more material approach than previously, trying to plug several
critical issues. The preliminary agreement between the US and
Mexico announced on Monday August 27 addressed how to remove
pending issues, which suggests that it will remain relatively
easy for Canada to join the agreement relatively quick.
"For me Canada joining is still at the centre of this
argument," said Sergio Luna, head of Citibanamex Research.
"Obviously there will be a few issues concerning timber
perhaps, that need to be ironed out....