Canada’s Freeland to hold NAFTA talks on Tuesday as time runs short

OTTAWA: Canadian Foreign Minister Chrystia Freeland will meet US Trade Representative Robert Lighthizer in Washington yesterday for another round of talks to renew the NAFTA trade pact, an official said on Monday, as time runs short to seal a deal.

Freeland spokesman Adam Austen did not give details. After more than a year of negotiations, Canada and the United States are still trying to resolve differences over the North American Free Trade Agreement, which also includes Mexico.

US officials say time is running out to agree on a text on which the current Congress can vote. Canadian officials say they are working on the assumption they have until the end of September.

Freeland spent three days in Washington last week and said on Friday as she prepared to leave that she and Lighthizer were making very good progress in some areas, although a deal remained out of reach.

US President Donald Trump, who says he is prepared to tear up NAFTA, has struck a trade deal with Mexico and threatened to push ahead without Canada.

Uncertainly over the future of NAFTA, which underpins US$1.2 trillion in trade, is weighing on markets as well as the Canadian and Mexican currencies.

Officials say the main sticking points are Canada’s dairy quota regime, Ottawa’s desire to keep a dispute-resolution mechanism, and Canadian media laws that favour domestically produced content. — Reuters