News Worms
News Worms


Donald Trump could use NAFTA withdrawal letter as negotiating leverage

Donald Trump could use NAFTA withdrawal letter as negotiating leverage

Canadian officials are tamping down speculation that President TrumpDonald John TrumpHouse Democrat slams Donald Trump Jr. for "serious case of amnesia" after testimony Skier Lindsey Vonn: I don't want to represent Trump at Olympics Poll: 4 in 10 Republicans think senior Trump advisers had improper dealings with Russia MORE will soon withdraw the United States from the North American Free Trade Agreement (NAFTA).

Canada is still optimistic there could still be some sort of positive resolution to these fractious trade talks, the sources said, and will continue to pursue its aggressive outreach plans in the USA, which include meetings with US state governors and lawmakers in Washington.

A sixth round of negotiations will begin this month in Montreal.

The February gold contract gained US$5.60 to US$1,319.30 an ounce and the March copper contract added two cents to US$3.24 a pound.

Canadian National Railway Co. declined 2.7 percent to 101.87 Canadian dollars and Canadian Pacific Railway Ltd fell 3.1 percent to 225.52 Canadian dollars while TransCanada Corp lost 2.4 percent to 59.57 Canadian dollars and Enbridge Inc dropped 2.1 percent 49.11 Canadian dollars.

Canada and Mexico have rejected most of the US proposals for NAFTA reforms, leaving officials with a big job if they are to bridge the large differences at the January 23-28 talks in Montreal.

The Canadian and Mexican currencies both weakened against the US dollar after the news.

The Mexican peso is down 0.85% at 19.4034 per dollar. They have so far yielded little firm indication of whether a deal can be reached to update the pact, the Canadian officials said. The US is insisting on a five-year automatic termination clause, stricter rules on autos, government procurement and dairy, and the overhaul or elimination of dispute panels. A party's withdrawal takes effect six months after it provides written notice to the other member countries.

"What's surprising to me is that everybody is so surprised".

Odds Bank of Canada Governor Stephen Poloz will raise interest rates at the meeting next week also declined to 82 per cent on the news, from 87 per cent Tuesday.

follow

editors' picks

January 11, 2018
SpaceX defends rocket performance after loss of United States spy satellite
According to one source, the payload fell back to Earth along with the spent upper stage of the Falcon 9 rocket. The company has said it plans about 30 missions in 2018 after completing a record 18 previous year .

January 11, 2018
Cryptocurrencies will come to a bad end ―Warren Buffett
But Greg Abel and Ajit Jain will also become vice chairmen and take on more duties. Buffett said back in 2014 that bitcoin is a "mirage" and his views hasn't changed.

January 11, 2018
Trump declines to commit to Mueller interview for Russian Federation probe
Trump said he would "100 percent" be willing to share his version of the encounter with Comey under oath. Moscow has also been refuting these allegations.

January 11, 2018
Magnitude 7.6 quake strikes off Central America
The tremor was about 25 miles (44 kilometers) from Honduras' Swan Islands, which are unpopulated except for small navy post. An quake in the Caribbean Sea Tuesday night was felt along the southern coastline, into Quintana Roo.

January 10, 2018
Kia Motors to reveal all-electric concept car at CES 2018
Kia has announced that a new electric vehicle (EV) concept will be introduced at the Consumer Electronics Show ( CES ) next week. If the system spots a pedestrian or cyclist, it can fire off an alarm sound targeted specifically at that person.

January 10, 2018
Hyundai NEXO fuel cell vehicle arriving in Oz in 2019
Nexo came only seven years after Hyundai launched its first green auto , the Sonata Hybrid in the United States in 2011. It is also faster than the Hyundai Tucson FCEV, the company's previous foray into building a fuel cell crossover.

January 10, 2018
Razer release Project Linda - a laptop that your phone powers
For now Razer is gathering fan feedback, but we wouldnt get too attached – juts take Linda for what it is, a cool-looking concept. Based on the Razer Blade Stealth, Project Linda is indistinguishable from the company's other high-end Windows laptops.

January 10, 2018
Takata airbag recall grows by 3.3 million more cars
The full list of vehicles affected by the air bag recall, broken down by manufacturer, is also available on the NHTSA website. The tally now stands at approximately 34 million vehicles, making it the largest wave of recalls in USA history.

January 10, 2018
Widnes launch crowdfunding campaign to support Kato Ottio's family
He was expected to travel to England next week to get ready for the start of the new Super League season in February. Ottio, 23, was due to arrive with the Vikings this week but tragically passed away in his native Papua New Guinea.

October 20, 2016
Aaron Rodgers: Packers Must Get Passing Game Going
There were definite moments of greatness in some of their games; they simply lacked the consistency to deliver wins. And Packers fans will gladly cheer for all the changes emerging if their team actually begins delivering results.