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Canada Pledges to Stick With NAFTA Talks, Mexico Works on Plan B

Canada Pledges to Stick With NAFTA Talks, Mexico Works on Plan B

The Trump administration on Friday demanded that US -made content account for half the value of the cars and trucks sold under the North American Free Trade Agreement, raising further doubts about any potential deal to renew the pact.

American negotiators want Canada to be "more transparent" about its supply management system for dairy, according to a source with direct knowledge of the NAFTA talks.

His remarks and the tension around NAFTA helped push the peso down 1 percent against the USA dollar to a five-month low.

The Trump administration says the clause, causing NAFTA to expire every five years unless all three countries agree it should continue, is to ensure the pact stays up to date.

One industry representative called the demands so comically impractical and potentially damaging for producers across the content that he can't believe the U.S.is serious about it.

In his address to the Mexican Senate, Prime Minister Trudeau underlined the importance of progressive trade and modernizing the North American Free Trade Agreement for the benefit of all three partners - Canada, Mexico, and the United States. With that in mind, he said he's warned US trade representative Robert Lighthizer to tread carefully around the sector.

Some trade observers said it is hard to see how negotiators could reach an agreement given USA demands that many see as non-starters. "This thing is going into the toilet", Jerry Dias told reporters on Thursday.

Canada and Mexico cooperate on security through many avenues, including annual bilateral security consultations, military to military consultations, political-military consultations, and the newly established Dialogue on Public Safety between Public Safety Canada and Mexico's Secretariat of the Interior.

Trump has made no secret that he prefers bilateral trade deals, and skeptics wonder whether the US demands are part of an "America First" strategy created to ensure the current talks fail. US negotiators have countered with a proposal that would effectively grant the other countries less access, people familiar with the talks say.

The United States is presenting a triple-whammy of a demand on auto parts at the NAFTA negotiations.

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