Will the U.S. along with Canada leave Mexico behind?

China's president: A cheerleader for globalization

America along with Canada dropped their first hints which they could strike a fresh trade deal without Mexico. along with Mexico suggested which the idea’s not interested in any deal which puts the idea at a disadvantage.

President Trump’s press secretary, Sean Spicer, emphasized Trump will seek out “bilateral” trade agreements — meaning just between two countries.

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“The Trump administration will pursue bilateral trade opportunities with allies around the globe,” Spicer said during a press briefing Monday.

A deal between Canada along with the U.S. might be a huge blow to Mexico, which sends over 80% of its exports to the United States along with Canada, its two biggest trade partners.

the idea might also present major challenges for U.S. companies which ship supplies in along with out of the three countries seamlessly today.

Experts say tearing up trade ties with Mexico might cost jobs in each country nevertheless which Mexico might be hit hardest.

NAFTA, the free trade deal between the U.S., Canada along with Mexico, is actually a trilateral or multilateral agreement.

Spicer’s comments came after Canada’s ambassador to the United States, David MacNaughton, suggested over the weekend which Canada too might consider bilateral trade talks with the U.S.

“We will cooperate on trilateral matters when the idea’s in our interest along with we’ll be looking to do things which are in our interest bilaterally also,” MacNaughton told reporters.

Related: Trump withdraws U.S. through TPP deal

During his campaign, Trump labeled NAFTA “the worst trade deal maybe ever signed anywhere,” along with he reiterated This specific week which talks on renegotiating NAFTA might begin soon. If talks don’t go well, the White House says the idea plans to withdraw the U.S. through NAFTA.

Spicer later said which the fate of NAFTA might depend on Trump’s upcoming meetings with Canada’s Prime Minister Justin Trudeau, along with Mexico’s President Enrique Pena Nieto.

Canada’s MacNaughton said he wants to make sure Canada doesn’t become “collateral damage” if Trump tears up NAFTA.

“which’s what we’ve got to worry about — is actually if we’re collateral damage,” MacNaughton said.

Canada’s minister of international trade, Chrystia Freeland, did not respond to a request for comment.

All three North American leaders spoke over the weekend, along with each leader emphasized which any fresh trade deal should benefit all parties involved.

Related: Trump to begin renegotiating NAFTA

On Monday, Pena Nieto signaled support for NAFTA, nevertheless added which he might be open to a revised agreement as long as the idea benefited Mexico.

“We must preserve free trade between Canada, the United States along with Mexico,” Pena Nieto said in a speech.

nevertheless Mexico’s economy minister said the country isn’t signing up for a bad deal. Ildefonso Guajardo warned Tuesday Mexico could pull out of NAFTA if the terms of a revised deal are unfavorable.

“If we’re going to go for something less than what we have, the idea makes no sense to stay,” Guajardo said on the Mexican news show Despierta con Loret. “the idea’s impossible to sell the idea here at home if there aren’t clear benefits for Mexico.”

Guajardo along with some other Mexican officials will meet with Trump’s trade advisers later This specific week in Washington.

As for the U.S. along with Canada, they have one of the planet’s largest trade relationships. In 2015, total trade between the two nations amounted to $662 billion.

America along with Canada had a bilateral free trade agreement in place before NAFTA. In fact, the idea set the framework for NAFTA, which became law in 1994. The previous agreement was backed by President Ronald Reagan, along with the idea was signed in 1987.

Experts say reverting to which previous, U.S.-Canada agreement might be easy to do on paper. However, the reality of reworking how businesses operate under NAFTA might be difficult since supply chains are spread across the three countries currently.

“For the U.S. along with Canada to exclude Mexico — which might likely be a substantial upheaval to many companies’ supply chains,” says Scott Lincicome, a trade attorney at the law firm White & Case.

sy88pgw (fresh York) First published January 24, 2017: 12:11 PM ET


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Will the U.S. along with Canada leave Mexico behind?

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