8/29/2018, 12:05 AM (Source: TeleTrader)
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US, Canada kick off trade talks in Washington DC

Negotiations to revise the North American Free Trade Agreement (NAFTA) between representatives of the United States and Canada have started on Tuesday afternoon in Washington DC.

The Canadian negotiating team is led by Foreign Minister Chrystia Freeland, accompanied by chief trade negotiator, Steve Verheul, and officials from the Prime Minister Justin Trudeau's Office, including his principal secretary, Gerald Butts. In order to make room for the talks, Freeland has shortened her European tour. US Trade Representative Robert Lighthizer is leading the American team of negotiators. Their first meeting was described by Freeland shortly after as "very constructive."

Earlier in the day, Trudeau commended the progress that US and Mexico made, particularly on autos, in their bilateral trade deal. According to the agreement, 40% to 45% of auto content would be made by workers earning at least $16 an hour, while the amount of auto content required from the NAFTA region was raised from 62.5% to 75%.

Breaking the News / NI