Canada, Mexico, Eyeing Trade Markets Beyond U.S.

Mexico and Canada both are eyeing new trade partners as trade rhetoric and threats from the U.S. are growing trade-related concerns between the three countries.  The NAFTA members are considering non-U.S. markets, including China, to grow their economies in the future.

The moves come as President Donald Trump promises a renegotiation of NAFTA, calling it a bad trade agreement for the United States.  Metro News of Toronto, reports officials from Mexico and Canada met last week to discuss trade moving forward with NAFTA renegotiations.  The talks of renegotiation are causing a great deal of uncertainty for Canada and Mexico, who are looking to diversify trade to curb the uncertainty.

Once the Trump administration gives its official notice to Congress, it triggers 90 days of discussion with industry and lawmakers before it can officially start trade talks.

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