Trudeau Warns Against Potential 'Race To The Bottom' In Apparent Reference To Trump's Trade Views
- 7 years ago
Canadian Prime Minister Justin Trudeau appears to have made some pointed references to President Trump’s views on NAFTA as the two countries and Mexico prepare to renegotiate the trade treaty’s terms.
Canadian Prime Minister Justin Trudeau appears to have made some pointed references to President Trump’s views on NAFTA as the two countries and Mexico prepare to renegotiate the trade treaty’s terms, reports the BBC.
During a speech to the U.S. National Governors Association on Friday, he talked about the mutually beneficial relationship between Canada and the U.S. that goes beyond borders but then said, “This is another truth about good neighbors. Sometimes, we take each other for granted. Sometimes, the very dependability and ease of a relationship can lead to us paying too little attention.”
Trudeau later addressed trade directly, saying, “Canada is the U.S.’s biggest, best customer by far. We’re a bigger customer than China, by roughly $152 billion. Bigger than Japan or the U.K. No one else even comes close. In fact, Canada buys more from the U.S. than China, Japan, and the U.K. combined.”
He added, “This is the most successful economic partnership in the history of the world. It’s worth about $1 trillion each year. And most importantly, it’s well-balanced.”
Trudeau declared, “Free trade has worked. It’s working now.” But he also warned against a potential "race to the bottom."
Trudeau noted, “We must get this right. Sometimes getting it right means refusing to take the politically tempting shortcuts. More trade barriers, more local content provisions, more preferential access for homegrown players and government procurement, for example, does not help working families over the long term or even the midterm. Such policies kill growth...once we travel down the road, it can quickly become...a race to the bottom.”
His comments are in contrast with ones the U.S. president has made in the past about NAFTA; in fact, according to the New York Times, “Mr. Trump had threatened to withdraw completely from the agreement, only to relent in late April when the leaders of Canada and Mexico, the other parties to the deal, called and asked him to renegotiate instead.”
However, the publication says, “The president, whose campaign-trail vows to tear up Nafta appealed to his base of disaffected working-class voters aggrieved by globalization, is under mounting pressure to follow through on his pledge.”
As of last month, the Trump administration has reportedly been reviewing the deal internally, and negotiations with Canada and Mexico are slated to start in August.
Canadian Prime Minister Justin Trudeau appears to have made some pointed references to President Trump’s views on NAFTA as the two countries and Mexico prepare to renegotiate the trade treaty’s terms, reports the BBC.
During a speech to the U.S. National Governors Association on Friday, he talked about the mutually beneficial relationship between Canada and the U.S. that goes beyond borders but then said, “This is another truth about good neighbors. Sometimes, we take each other for granted. Sometimes, the very dependability and ease of a relationship can lead to us paying too little attention.”
Trudeau later addressed trade directly, saying, “Canada is the U.S.’s biggest, best customer by far. We’re a bigger customer than China, by roughly $152 billion. Bigger than Japan or the U.K. No one else even comes close. In fact, Canada buys more from the U.S. than China, Japan, and the U.K. combined.”
He added, “This is the most successful economic partnership in the history of the world. It’s worth about $1 trillion each year. And most importantly, it’s well-balanced.”
Trudeau declared, “Free trade has worked. It’s working now.” But he also warned against a potential "race to the bottom."
Trudeau noted, “We must get this right. Sometimes getting it right means refusing to take the politically tempting shortcuts. More trade barriers, more local content provisions, more preferential access for homegrown players and government procurement, for example, does not help working families over the long term or even the midterm. Such policies kill growth...once we travel down the road, it can quickly become...a race to the bottom.”
His comments are in contrast with ones the U.S. president has made in the past about NAFTA; in fact, according to the New York Times, “Mr. Trump had threatened to withdraw completely from the agreement, only to relent in late April when the leaders of Canada and Mexico, the other parties to the deal, called and asked him to renegotiate instead.”
However, the publication says, “The president, whose campaign-trail vows to tear up Nafta appealed to his base of disaffected working-class voters aggrieved by globalization, is under mounting pressure to follow through on his pledge.”
As of last month, the Trump administration has reportedly been reviewing the deal internally, and negotiations with Canada and Mexico are slated to start in August.