No Deal? Loonie Slides After “Secret Insulting Remarks” By Trump, Downbeat Freeland NAFTA Feedback

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With simply hours to go till the Trump-imposed deadline to achieve a NAFTA deal between the US and Canada, moments in the past Chrystia Freeland poured chilly water on hopes of an imminent deal, saying “we aren’t there but” on a NAFTA deal.

Under are her feedback moments in the past to the press after talking to the USTR , courtesy of Bloomberg

  • Freeland says she’ll return to talks at USTR later Friday
  • Canadians are good at discovering “win-win compromises,” says Freeland, including “on the finish of the day although we’re solely going to signal a deal that’s good for Canada”
  • “On this negotiation we at all times rise up for the nationwide curiosity and that’s what we’re going to proceed to do”
  • Canada is on the lookout for a great deal, “not simply any deal,” says Freeland
  • Freeland says she agreed with U.S. Commerce Consultant Robert Lighthizer at begin of the week to chorus from negotiating “particular points in public”
  • Freeland says she jokes with Lighthizer “that we may change chairs” as a result of they know every others’ positions on the Nafta points so nicely

Freeland additionally stated that she could be again later within the day on the USTR for extra NAFTA talks, however stated she would not focus on particular NAFTA points in Public:

Trudeau additionally chimed in some skeptically on the identical time:

  • *TRUDEAU SAYS CANADA WILL ONLY SIGN `GOOD’ NAFTA DEAL
  • *TRUDEAU SAYS A WIN-WIN-WIN NAFTA DEAL REMAINS POSSIBLE
  • *TRUDEAU SAYS NO NAFTA AGREEMENT IS BETTER THAN A BAD ONE

Following the downbeat feedback, the loonie slumped to session lows of 1.3080

However the punchline is what the Toronto Star reported earlier, specifically that “Excessive-stakes commerce negotiations between Canada and the U.S. had been dramatically upended on Friday morning by inflammatory secret remarks from President Donald Trump, after the remarks had been obtained by the Toronto Star.”

In remarks Trump wished to be “off the document,” Trump advised Bloomberg Information reporters on Thursday, based on a supply, that he’s not making any compromises in any respect within the talks with Canada — however that he can’t say this publicly as a result of “it’s going to be so insulting they’re not going to have the ability to make a deal.”

“Right here’s the issue. If I say no — the reply’s no. If I say no, you then’re going to place that, and it’s going to be so insulting they’re not going to have the ability to make a deal…I can’t kill these folks,” he stated of the Canadian authorities.

In one other comment he didn’t need printed, Trump stated, based on the supply, that the attainable cope with Canada could be “completely on our phrases.” He steered he was scaring the Canadians into submission by repeatedly threatening to impose tariffs.

“Off the document, Canada’s working their ass off. And each time now we have an issue with some extent, I simply put up an image of a Chevrolet Impala,” Trump stated, based on the supply. The Impala is produced on the Common Motors plant in Oshawa, Ontario.

The Star is Canada’s most generally learn publication, so now that the US president has arrange the strawman, any risk of a deal going via is immediately wanting very slim.

Supply

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