Canada deal in doubt; focus shifts to Japan trade talks

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"And that involves, obviously, feeling confident about the path forward as we move forward - if we do - on a NAFTA 2.0 and the ... lack of punitive tariffs that we consider are unjust", Trudeau said. 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.

"His tariffs are too high and he doesn't seem to want to move, and I told him forget about it", Trump said. "That's the big one".

As the NAFTA negotiations are wrapping up, and after a successful renegotiation of the US-South Korea free-trade agreement, the Trump administration's focus appears to be shifting to trade talks with Japan.

"The United States moving ahead without Canada shows that Canada may be left out altogether", said Adam Button, a currency analyst at ForexLive. "We don't like their representative very much", Trump added.

U.S. President Donald Trump let Canada know how he really feels Wednesday - sharpening his tariff threat, calling out Chrystia Freeland and claiming he denied Justin Trudeau a bilateral meeting, all because of the federal government's hard bargaining on North American trade.

If differences with Ottawa can not be resolved by then, the Trump administration will ask Congress to approve a Mexico-only deal, he said. Trump has complained about Canadian tariffs on USA dairy products - and did so again Wednesday - and has called on Congress to pass a trade deal his administration negotiated with Mexico to replace the North American Free Trade Agreement, with or without Canada's participation.

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A senior Canadian official told CBC News the Trump comments should be seen in the context of the continuing negotiations.

"I must be honest with you, we're not getting along with their negotiators we think their negotiators have taken advantage of our country for a long time", Trump said.

U.S. Trade Representative Robert Lighthizer said there was "some distance" between the two sides on issues such as access to Canada's dairy market and how best to settle trade disputes.

The U.S. dollar rose against a basket of major currencies after the Fed raised interest rates as expected for the eighth time, flagged more rate hikes and signalled the end of the "accommodative" policy era.

Relations between the Canadian and United States leaders have been chilly since June, when Trump left a G7 summit in Canada and then accused Trudeau of being dishonest and weak. Supporters of Mexico's incoming government, which takes office December 1, are not especially fond of NAFTA, which is why both countries want the deal done before then. "But it will probably or possibly be just USM", he said suggesting it will likely only include the US and Mexico. Officials in the Prime Minister's Office insisted no such request had been made, given already close contact with the White House.

The administration is looking to inform Congress of a plan for a new North American trade agreement by Sunday, which would allow Mexican President Enrique Peña Nieto to sign it on November 30, his last day in office.

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