We Can Use NAFTA to Pay for Border Wall

FxWirePro: NAFTA developments to activate long CAD against short RUB, USD call switch of far-month tenors

FxWirePro: NAFTA developments to activate long CAD against short RUB, USD call switch of far-month tenors

Officials say discussions are now taking place about raising the NAFTA region content requirement.

Anyone who thought it was better to downplay the risk of a NAFTA collapse got a rude shock this week, when the Canadian and Mexican currencies sank against the USA dollar.

"I think Canadians understand that while we have a very good relationship with our largest trading partner, it's just the smart thing to do".

Freeland said the WTO filing is about the "unfair and unjustified" tariffs imposed, and is "on a quite separate track from the NAFTA negotiations".

One of the sources, Raul Urteaga, the head of worldwide trade for the ministry of agriculture, said: "If Trump announces a U.S. withdrawal from NAFTA, well at that moment the negotiations stop".

Premier Brad Wall, who has previously spoken out about the importance of the North American Free Trade Agreement and other worldwide projects to Saskatchewan's economy, said it is "crucial to continued growth and prosperity in Canada, the United States and Mexico".

The official said Ottawa is not convinced Trump will pull the plug on NAFTA, as was reported Wednesday, but that there is a "heightened probability" such an outcome may come to pass, regardless of progress at the negotiating tables in Montreal on January 23.

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Mexico, Trump said, "can pay for it indirectly through NAFTA".

"The reality is that the USA courts are not going to support any allegation made by Canada or Mexico, they are going to support the American businesses community", Dias said.

But Champagne talked about the "diversification imperative" - trying to expand Canada's trade with Europe, Asia and South America so that it's less reliant on the U.S. Chuck Grassley also released a statement on Tuesday urging the administration to protect farmers by keeping the deal intact.

Scrapping NAFTA would not only damage GOP campaign plans, but it would also be likely to set off a fierce legal battle over whether or not Trump has the unilateral authority to make the decision without congressional approval. A White House official, speaking on background, said there hasn't been any change in the president's position on the NAFTA.

Trump's proudest boast is the performance of the S&P 500 and the Dow Jones index since he became president.

GOP lawmakers view Trump's threats more as a negotiating tactic than a serious consideration, but Trump has proven his willingness to pull the trigger on impactful policy questions without much warning in the past.

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