Mexico refining NAFTA objectives after first round of talks

Trump threatened to blow up the three-party trade agreement earlier this year

"So, I think we'll end up probably terminating NAFTA at some point - probably", Trump said in the Tuesday speech.

"I don't think we can make a deal".

The president's threat itself is no surprise.

Pulling out of NAFTA, Bacus said, would spur a reinstatement of import tariffs on USA beef as high as 25 percent and potentially cause a glut of beef, pork and chicken in the U.S.

He said Trump's comments also could damage the "friendship and economic alliance that the US and Mexico share". "Because we have been so badly taken advantage of".

The negotiation between the three countries has formally started last week. It's credited with fostering a rapid rise in commerce and closer diplomatic ties among the three countries, but the agreement has long fueled heated criticism in the US because it led some American-based manufacturers to move operations south of the border to capitalize on lower-wage Mexican labour. Donald Trump has promised to make changes to NAFTA or withdraw his country simply. Renegotiations began in recent weeks.

It also violates the Constitution of the United States.

Canada's pro-NAFTA offensive in the United States has included intense lobbying to both state and congressional representatives with data showing nine million American jobs depend on trade and investment with Canada. "Since 1988 we have seen one in every five of our farms disappear and we've lost over 70% of our young farmers, even though Canada's population has increased".

A withdrawal from NAFTA is the last thing that many farm groups want because the pact is generally credited for massively boosting USA exports of corn, soybeans, wheat, dairy, poultry, pork and beef. More rounds will likely follow.

Videgaray, speaking on local television, sought to brush off the threat, saying Trump's comments were simply a negotiating tactic and Mexico would keep negotiating as well.

Freeland herself was formerly Canada's top trade official, and before that spent years as a journalist based in Washington, so she's ideally situated to both grasp the substantive issues in play, understand the relevant political dynamics in the United States, and represent the Canadian government at a high level.

Many times since the u.s. presidential campaign, Mr. Trump has brandished the threat of a termination of this treaty. "We certainly can't afford to walk away from NAFTA". "We're not going to get rattled by this". "Exiting the agreement would be terribly destructive to the USA economy".

Trade includes everything from manufactured goods to farm products. In Congress, farm-state lawmakers have urged US negotiators to do nothing that would imperil USA agricultural exports to Mexico and Canada.

"NAFTA has been incredibly successful for our industry", said Jennifer Myers, a spokeswoman for the National Corn Growers Association.

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