Economy of North America

By Carl Bildt *

In 2015, the US had a trade policy that tried to fashion the global trade system of the future.

He promises a "glorious future" for the US industry.

President Donald Trump has signed a new North American trade pact with Canada and Mexico, promising a "glorious future" for US industry.

The treaty, drafted during the years of negotiations between the three countries, replaces the 1994 North American Free Trade Agreement or NAFTA.

Turkish trade body announced on Aug. 27 that Turkey and Mexico agreed last week on resumption of negotiations for Free Trade Agreement.

The United States Department of Commerce said it would impose additional duties on imports of steel from China and Mexico as a result of an investigation into the so- "countervailing duties," BNR reported.

President Donald Trump threatened Friday to seal the US-Mexico border "entirely" if Congress does not approve billions of dollars in funding for a wall, reports AFP. 

Talks to update the NAFTA trade deal enter a make-or-break week, as ministers from Canada, the United States and Mexico seek to resolve an impasse in key areas before elections in Mexico and the United States complicate the process.

U.S. Vice President Mike Pence held brief bilateral talks with the leaders of Mexico and Canada on April 14  about the state of play in their NAFTA renegotiations, saying he was "encouraged" by recent progress towards a deal.

Finance Ministers and Central Bank Governors of G20 countries met in Buenos Aires. The talks passed in the shadow of planned US duties on imports of steel and aluminum.

Canada’s chief negotiator at talks to modernize NAFTA on Feb. 13 said the United States aimed to weaken Canada and Mexico rather than ensure all three members of the trilateral trade pact benefited.

Canadian Prime Minister Justin Trudeau said on Tuesday Canada was working hard to convince U.S. President Donald Trump that the NAFTA trade agreement was in the interest of the United States as well as other countries, Reuters reported.