CANADA/NAFTA/TRADE DEALS: “Canada on Monday [8-7-17] played down the prospect of a resolution with the U.S. over a trade spat on lumber imports before the start of talks to revamp the North American Free Trade Agreement, denting enthusiasm raised by Prime Minister Justin Trudeau last month for such an outcome.
The inability to cut such a deal before the start of the renegotiations, set to formally start on Aug. 16, threatens to add another layer of complexity in efforts by the U.S., Canada and Mexico to find common ground on a new continental trade pact, Canadian lawmakers and trade watchers have warned.
Talks are aimed at settling the latest chapter in a decadeslong trade dispute between Washington and Ottawa over Canadian softwood lumber, which is mostly used to build houses.
Canadian Foreign Minister Chrystia Freeland told reporters in a teleconference from the Philippines on Monday that ‘she was unable to predict when we might reach an agreement.’ She said talks continue, adding she and U.S. Commerce Secretary Wilbur Ross have been ‘actively, energetically and substantively engaged’ for the past two months.”
-Paul Vieira, “Canada Plays Down Prospect of Solving U.S. Trade Dispute Over Lumber,” The Wall Street Journal online, Aug. 7, 2017 10:22am