Canada working to secure quick Nafta deal: Minister

Bloomberg

Nafta negotiations are weighing on companies’ investment plans and both Canada and the US are hoping to make rapid progress in talks, according to Canadian Finance Minister Bill Morneau.
“There are some businesses that are being cautious in investments because there is an expectation that Nafta could be slightly different tomorrow than it was yesterday,” Morneau said . “What’s been clear from the American standpoint is they are anxious to have a conclusion to Nafta as near term as possible— we’re trying to work constructively towards that goal.”
US President Donald Trump has, for the time being, exempted Canada and Mexico from steel and aluminum tariffs. He has nonetheless threatened to impose the tariffs after all if the countries ultimately fail to secure an update to the trade deal. Asked whether that means Canada will be on the back foot in trade talks, Morneau said “we’ve shown that we can deal with the steel and aluminum tariffs as a separate issue.”
No date has been announced for the next round of discussions, though Canadian and Mexican ministers said after the last round of negotiations that they’re looking forward to starting them up again in Washington in April.
On Canada’s future trading partnership with the UK—which is under the Comprehensive Economic and Trade Agreement—Morneau said any post-Brexit arrangement would have as much trade as the two countries enjoy currently. “To the extent that we can get a better arrangement with the UK in the future, that’s positive,” he said.