Canada Foreign Affairs Minister Chrystia Freeland says that Canada has kept its privileged access to the U.S. market even as the new North American trade deal hangs in the balance. Let’s discuss the status of Canada new trade deal.
Ms Freeland said Canada is not in any urgency to ratify the new trade deal with Mexico and the US.
She added, “Canada is looking at ways to boost the effectiveness of its retaliatory tariffs against the United States.”
Three countries signed the deal but still, there is uncertainty between formal ratification and political jockeying in the US & Mexico.
Freeland is not at all worried about way of moving forward. She said that Canadians can still enjoy the benefits of the existing 25-year-old North American deal.
She also said that before Canadian could enjoy the deal after the proper ratification of free deals with European Union & 10 Pacific Rim countries.
Meanwhile, Mexican lawmakers said that they are OK with the status quo if a new deal can’t be ratified.
Also Read: Jane Philpott – Trudeau Violated MPs Right With Caucus Expulsion.
On Tuesday, after a meeting at Parliament Hill Freeland said, “NAFTA is an entirely different situation.”
She further added, “We have been quite willing to consider modernizations, improvements, but our core objective has always been to keep that access in place.”
In June, A Canadian ratification deadline is looming as the Parliament will break at that time. Also, it won’t rejoin until October federal elections.
Chrystia Freeland repeated that the US tariffs on Canadian steel & Aluminium were officially imposed on National Security Basis. She stopped the new deal negotiations by saying, lifting them is the precondition for the government ratifying continental trade deal.
Some leading American Democrats in Congress says, that they will not ratify the new deal until Mexic enforce the tougher labour standards. These standards raise the rights of labourers and their unions.
As per American Democrats concern, she says that these issues can be resolved by imposing tough labour laws in Mexico.
So, this was everything about the Canada new trade deal with Mexico & the US.
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