Canadian Dollar seemed to be benefited from the EU-US trade talks too. Trump’s softened stance on auto tariffs is a positive to Canada, as well as NAFTA talks too. Canadian Foreign Minister Chrystia Freeland said after meeting with Mexican Economy Minister Ildefonso Guajardo that “Canada’s very clear desire is to move the NAFTA negotiations back into higher gear now that we are past the Mexican election”
Guajardo said that “in the next few months and definitely before the election process in the United States, we are trying to constructively advance this negotiation.” He is also optimistic that “there is the possibility of finding a safe landing zone.”
Nonetheless, it should be noted that while the US would want to pursue bilateral agreements with Canada and Mexico, the latter two insist on trilateral agreement. Guajardo said “the essence of this agreement is trilateral, and it will continue being trilateral.” Incoming Mexican Foreign Minister Marcelo Ebrard also said NAFTA “can be modernized but we’re not thinking about it having a different nature to that of today.”
