Mexico seeks U.S. dialogue, new trading partners

For example, there is concern that his administration, even if it approves the Keystone XL pipeline which Trump has said he plans to do, might be looking at slapping a border tax on US oil imports from Canada.

Trump, who was sworn in as the 45th U.S. president on Friday, targeted both trade pacts during his election campaign.

“Our relationship with Canada has nothing to do with our relationship with Mexico, ” he told CNN. “I think it’s going to have a negative impact on Canada”.

Videgeray said that while the United States has “great interest” in talking about trade, Mexico wants to “talk about every issue”.

CNN reported that, according to sources, Trump will sign an executive order on Monday withdrawing the USA from Trans-Pacific Partnership negotiations.

But it will be up to the Canadian government to make sure America doesn’t forget its northern neighbour.

Schwarzman said: “I do not think Trudeau should be very anxious, because Canada is very well regarded”.

With Trump wasting no time in following through on his promise to leave the Trans Pacific Partnership Anderson said Canadian officials will have to work quickly to keep up. “That will be a very, very early topic in this administration.I think all aspects of NAFTA will be put on the table”.

According to CNN, Trump’s goal to renegotiate or withdraw from the deal may be hampered both by its partner countries and by Congress. The U.S. may have more clout than Canada in these negotiations, but they still benefit substantially from reciprocal trade with Canada. Stephen Schwarzman, who heads up Trump’s strategic and policy forum, told Prime Minister Justin Trudeau and his cabinet that things should go relatively well for Canada if NAFTA is renegotiated. Still, multiple signatory countries including Vietnam and Australia have said they would stick to the deal even without the leading party of the agreement.

“We must preserve free trade between Canada, the United States and Mexico”, Pena Nieto said in a speech.

Trump has pledged to renegotiate the pact between the U.S., Mexico and Canada and slap tariffs on imports. Chris Collins, who was the congressional liaison between lawmakers and Trump’s presidential transition team, said he favours dealing with Canada and Mexico separately.

Ms. Greenwood said reopening NAFTA could actually be an opportunity to strengthen free trade by updating the deal. “The view of business really matters to this President, and business interests have close relationships with Canada”, she said.

The economy will be on the top of the agenda for the prime minister, as meetings at his cabinet retreat kick off in downtown Calgary today.

President Trump could sign an executive order on Monday meant to renegotiate the free trade agreement between the US, Canada and Mexico, it was reported on Monday.