Nafta

President Trump lashed out at Canada and said he was considering enacting a tariff on auto imports if Ottawa didn’t agree to join a trade agreement with Mexico that could supplant the North American Free Trade Agreement (NAFTA), adding that he rejected a one-on-one meeting with Canadian Prime Minister Justin Trudeau over the trade impasse.

A trio of top U.S. business groups said it would be “unacceptable” to sideline Canada in any trade agreement that seeks to increase jobs and enhance the competitiveness of businesses across the United States.

One day after President Trump said the United States and Mexico had reached a tentative trade agreement that may replace the North American Free Trade Agreement (NAFTA), analysts said the energy industry was still scrambling for details.

After weeks of arduous renegotiations in an attempt to upend the 1994 North American Free Trade Agreement (NAFTA), which bound together the economies of the United States, Mexico and Canada, President Trump on Monday declared victory and said he had a new trade agreement on the table with Mexico.

After weeks of arduous renegotiations in an attempt to upend the 1994 North American Free Trade Agreement (NAFTA), which bound together the economies of the United States, Mexico and Canada, President Trump on Monday declared victory and said he had a new trade agreement on the table with Mexico.

Mexico said it would follow the European Union’s (EU) lead and file legal proceedings with the World Trade Organization (WTO) over the Trump administration’s decision last week to impose tariffs on steel and aluminum imports.

The United States will not lift new tariffs on steel and aluminum from China, even as both countries said over the weekend trade talks had been “constructive” and China had agreed to purchase more American goods and services, Treasury Secretary Steven Mnuchin said.

The first foreign operators to win acreage in Mexico’s deepwater oil and natural gas regions are gearing up to start drilling, even as various political uncertainties cloud the outlook for the local energy sector.

Senior Mexican officials are battening down the hatches against any signs of political turbulence in the nation’s upcoming presidential election. Above all, they want to preserve the legacy of President Enrique Pena Nieto’s reform program, which spelled the end to the state energy monopolies and the generation of free markets in oil, gas and power.