Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Canada PM to boost support for NAFTA in U.S. as talks intensify

Published 19/01/2018, 18:13
Updated 19/01/2018, 18:20
© Reuters. Canadian Prime Minister Justin Trudeau speaks to China's President Xi Jinping during a meeting at the Diaoyutai State Guesthouse in Beijing

By David Ljunggren

OTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau will visit three major U.S. cities next month to bolster support for NAFTA as negotiators revising the trade pact tackle major differences, officials said on Friday.

The timing of Trudeau's Feb. 7-10 trip is significant, since it comes after a sixth and penultimate round of talks in Montreal from Jan. 23-29 that Canadian insiders are billing as critical.

Canadian sources last week said they were increasingly convinced that President Donald Trump would fulfil a long-standing threat to pull out of NAFTA, which he blames for job losses and a big trade deficit with Mexico.

Trudeau's office said the prime minister would visit Chicago, San Francisco and Los Angeles "to further strengthen the deep bonds" between the two nations.

One Canadian source familiar with the planned trip said it had been in the works for many months and described it as a continuation of Canada's outreach campaign in the United States to sell the merits of free trade.

The source said one goal of the trip was to build up support for NAFTA, saying Ottawa was pleased that more and more Americans were speaking up in favour of free trade.

U.S. industry groups have become increasingly vocal in recent weeks, pressuring the administration to keep NAFTA intact on the grounds that announcing a withdrawal would cause chaos.

Trump told Reuters on Wednesday that terminating the pact would result in the "best deal."

Tellingly, Trudeau will give a speech at the foundation established in honour of former Republican President Ronald Reagan, a proponent of free trade, "to underscore the interconnectedness of the Canada-U.S. economies."

Trump, who also ran as a Republican, has a much more isolationist approach.

Trudeau, who has consistently tried to attract high-tech investment to Canada, will spend time with entrepreneurs in San Francisco. Last year Canada tapped Google parent Alphabet Inc (O:GOOGL) to help plan a mixed-use development in Toronto using advanced digital technologies and urban design.

© Reuters. Canadian Prime Minister Justin Trudeau speaks to China's President Xi Jinping during a meeting at the Diaoyutai State Guesthouse in Beijing

Trudeau's office did not respond to requests for comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.