9/18/2018, 7:22 PM (Source: TeleTrader)
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US-Canada NAFTA talks to continue on Wednesday

The head of the Canadian foreign ministry Chrystia Freeland (pictured) will be resuming talks on the overhaul of the North American Free Trade Agreement (NAFTA) on Wednesday, a spokesperson for the department said on Tuesday. The foreign minister is flying to Washington during the evening to attempt to reach an agreement with the United States Trade Representative Robert Lighthizer before the deadline on September 30.

According to an earlier report, a senior Canadian official stated that Ottawa was willing to miss the deadline if an adequate deal was not reached. The US demand for more access to the northern neighbor's dairy market has been one of the main obstacles in the negotiations. Canada keeps rigid import quotas on dairy goods, taxing the surplus. Within the quota, the tariff is 7.5% and above it ranges from 241% to 314% according to the World Trade Organization data.

Earlier, US President Donald Trump talked of rebranding NAFTA as the USMC (US, Mexico, Canada) pact but threatened he would sign a bilateral deal with Mexico if no agreement was reached.

Breaking the News / MD