Will The US-Canada Talks Be Successful?

Forex News

Yesterday, Mexico and US finished their negotiation, announcing a bilateral deal. Thus, now, Canada is allowed to rejoin the NAFTA talks.

Chrystia Freeland, Canadian Foreign Minister, expressed her optimism about coming discussion. She told: "The fact that agreement on those difficult issues for Mexico was able to be reached definitely clears the way for us to have significant, substantive, and I hope productive, conversations with the U.S. this week". She also stressed: "We will, as we have done throughout this negotiation, stand up for the Canadian national interest and for Canadian values, while looking for areas where we can find a compromise that everyone can live with".

The key problems to solve are: the U.S. effort to dump the Chapter 19 dispute resolution mechanism, that wouldn’t allow US to take anti-dumping and anti-subsidy cases; intellectual property rights and extensions of copyright protections to 75 years from 50.

Mark Warner, a trade lawyer with MAAW Law, a specialist in Canadian and U.S. law stated: "I think that what they probably need by Friday is some indication from Canada to the Americans that it's ready to play ball, that they're ready to negotiate in good faith," adding: "If Chrystia Freeland goes down there and she starts going on and on about red lines again, then I think it's all over".