Canada PM says won't be rushed on NAFTA, new deal not guaranteed

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President Trump confirmed Wednesday he rejected the opportunity to meet privately with Canadian Prime Minister Justin Trudeau.

Mr Trump's comments were made as Nafta talks continue to drag on.

Speaking at a news conference in New York, Trump also said he was planning to effectively terminate the North American Free Trade Agreement and impose steep tariffs on all automotive imports from Canada to the United States.

He took aim at the country's dairy tariffs and reiterated his threat to tax Canada's auto industry. We don't like their representative very much, ' Trump said in an apparent reference to Canada's Minister of Foreign Affairs Chrystia Freeland, who has been negotiating with U.S. Trade Representative Robert Lighthizer.

Canada's Prime Minister Justin Trudeau said earlier Tuesday that there was "a possibility to build on what they agreed", but that his priority is to reach "the right deal".

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Talks have become increasingly hostile.

Trump once again complained about Canada's controlled dairy market, although his comments referred to tariffs that do not apply to USA products.

He added that the United States was more than willing to slap tariffs on Canadian auto imports, if Canada didn't acquiesce to his demands to reduce tariffs on USA dairy.

Specifically addressing Canada's NAFTA team, Trump said: "We don't like their representative very much". "If we made a deal with Canada - which, you know, a good chance still, but I'm not making anything near what they want to do".

That could end up hurting US auto companies that make cars in Canada and buy auto parts from Canada.

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On the other hand, should Canada decide to join the agreement, the Canadian dollar could go significantly stronger. Trudeau's remarks at his closing news conference, where he called US steel and aluminum tariffs "insulting" and said he would proceed with counter-tariffs, set off Trump and prompted him to revoke his support for that summit's closing statement.

"We're going to go ahead with Mexico", he added. He said the USA team thinks the Canadian "negotiators have taken advantage of our country for a long time".

A Trump administration official has stated the side deal reached between the USA and Mexico is set to be published on Friday.

"I'm not going to use the name 'NAFTA, '" he said. I never liked it. It's been great for Mexico.

Meanwhile, analysts with JPMorgan Chase predict that if the United States and Mexico proceed with the deal alone, the Canadian dollar would be gravely impacted.

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