Canada still optimistic for new NAFTA deal

Britain Could Join NAFTA If Brexit Deal Fails

"I'm of the view that over the long term, because trade has been so beneficial for everyone, that we will get through periods of question".

He says he is advising companies to start planning for the possibility of a world without NAFTA.

U.S. proposals include limiting the number of federal government contracts that Mexican and Canadian companies can win, a provision that would cause the deal to automatically expire in five years unless all three countries vote to renew, and changes in how much of a product needs to be made in North America to come under Nafta protections.

The country's foreign relations secretary said this week it would not be a big deal for Mexico to just walk away from the talks, and that Mexico won't accept "limited, managed trade" - an apparent reference to demands for higher US and regional content rules on products like auto parts.

"We all understand that it has worked", he said of the 23-year-old North American Free Trade Agreement, before adding, "As we think about redoing trade agreements between Canada, the United States and Mexico, there is opportunity for improvement".

Trump, who targeted NAFTA frequently during his election campaign, said in an Forbes interview that was published Tuesday: "I happen to think that NAFTA will have to be terminated if we're going to make it good".

He said it was important to make sure the populations affected understand how the treaty benefits them. He has testified before the U.S. Senate committees on foreign relations and the judiciary.

Cautious welcome from business world on Hammond's conference speech
Young people are taking on a ugly amount of debt, and many don't even know what they are getting from it. Mr Hammond will add: "We are the party of progress".

The North American Free Trade Agreement could be on the verge of disintegration after coming under sustained attack from Donald Trump, a longtime critic of the three-nation deal. Mexico could leave NAFTA and have the strength to move on without any serious long-term structural damage to the economy, he said.

On the U.S. side the event was co-chaired by Fedex Freight's CEO Michael Ducker and U.S. Chamber of Commerce President Thomas Donohue. Just four percent of food items in the U.K. originated from North America, and 54 percent of food consumed in the U.K., originated in the U.K.

The U.S. side sees strengthening the rules of origin for the auto industry as a way to bring back automotive production and jobs from Asia.

Rules of origin will be discussed by negotiators today, Sunday and Monday, according to an agenda obtained by Bloomberg.

"Without a doubt, there's life after NAFTA", he said, "And that's what gives us strength in the (current) negotiations". But he said Canada had to "be ready for anything" if the attempts to modernise the 23-year-old deal faltered.

Chris Sands, a professor at the Nitze School of Advanced International Studies at Johns Hopkins University, said Canada's problems marked "a new era of tough love" with Washington.

Trudeau's visit to Mexico is his first official sojourn to the country and follows Pena Nieto's visit to Canada in June 2016.

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