Trump says he rejected Trudeau, again threatens Canadian-built auto tariffs

28 September, 2018, 01:09 | Author: Elaine Woods
  • President Donald Trump speaks during a news conference Wednesday Sept. 26 2018 in New York.					Mary Altaffer  AP

Canadian Prime Minister, Justin Trudeau, speaks during a news conference at U.N. headquarters during the General Assembly of the United Nations in Manhattan, New York, U.S., September 26, 2018. "(Trudeau's) tariffs are too high and he doesn't seem to want to move". "That's the mother lode, that's the big one".

Other senior USA officials have been voicing frustration with Canada lately as the talks have dragged on. He said the U.S.is "very unhappy with the negotiations and the negotiating style of Canada".

"I still think there is a reasonable probability of a deal this weekend", said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets.

Trump and several of his top aides have said Canadians were refusing to rework NAFTA because they want to continue protecting their local dairy industry through a controversial management program.

Trudeau also said a good and fair deal is still "very possible".

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. "We are going to tax the cars that come in".

Relations between the Canadian and USA leaders have been chilly since June, when Trump left a Group of Seven summit in Canada and then accused Trudeau of being dishonest and weak. The president said it would be called "USM", for the US and Mexico, instead of "USMC", and offered blunt criticism of the Canadian team engaged in the talks.

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Adam Button, a currency analyst at ForexLive, warned the Canadian dollar slumped due to increased risk of the U.S. moving ahead without Canada.

That could end up hurting US auto companies that make cars in Canada and buy auto parts from Canada.

Returning to criticizing Canada, he ripped America's neighbor to the north for a long-imposed tariff of almost 300 percent on some dairy products. He said that's why the USA had an average eight hundred billion dollars a year in trade losses over five or six years.

"I don't like NAFTA". I've never liked it, it's been very bad for the United States.

"They (the United States and Mexico) made certain agreements", he said. It's been great for Canada.

The trade agreement, which took effect in 1994, removed most trade barriers between the U.S., Canada and Mexico, leading to a boost in trade, but it encouraged U.S. automakers and other manufacturers to move south of the border to take advantage of low-wage Mexican labour.

In a lengthy press conference Wednesday, Trump said he rejected meeting Trudeau because of trade talks.

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