Friday, February 10, 2017

Trump to Meet With Trudeau On Monday

https://insideclimatenews.org/sites/default/files/styles/icn_full_wrap_wide/public/
This coming Monday, Prime Minister Trudeau is going to be flying to Washington D.C. where he is to meet with President Trump, to discuss various topics of concern between the two countries. This not the first time they have spoken following Trumps inauguration, the two leaders had a conversation over the phone where Trudeau congratulated Trump on his recent victory and discussed the Canada-US economic relationship. It was this conversation that led to the meeting that has been arranged for Monday.

During their meeting on Monday, the Prime Minister's Office announced that, "They look forward to discussing the unique relationship between Canada and the United States of America and how we can continue to work hard for middle-class Canadians and Americans, together." The main topic to be discussed will be trade relations, particularly Trumps plans to renegotiate the North American free-trade agreement (NAFTA). Canada is prepared to retaliate if the U.S. imposes new tariffs, Foreign Affairs Minister Chrystia Freeland said Wednesday in Washington, where she met with her counterpart, Secretary of State Rex Tillerson. Trump has said he’d like to speed up talks to renegotiate NAFTA or replace it entirely. On Feb. 2, he met with congressional lawmakers urging them to make a new deal happen. “Maybe we do a new NAFTA, and we put an extra ‘f’ in the term ‘NAFTA,” Mr. Trump said. “You know what the extra ‘f’ is for, right? Free and fair trade. … because it’s very unfair.”

Another item that Trudeau is likely to be looking at with Trump is a proposal to impose a "border adjustment tax" on foreign imports, meaning that there will be a 10% tax applied to all Canadian imports. The goal of this taxing, brought forward by Republican members of the House of Representatives tax committee, is to boost U.S. manufacturing. Approving the plan “would be detrimental to exporters to the U.S., including Canada where dependence on exports has grown in light of slowing domestic demand,” a senior economist with the National Bank of Canada wrote in a client note recently posted online.

https://www.nbc.ca/content/dam/bnc/en/rates-and-analysis/economic-analysis/hot-charts-12jan2017.pdf

To sweeten the pot for American producers, the tax reform proposes to exempt U.S. exporters from being taxed on profits from their export.

Some other topics of concern that are likely to be brought up in their meeting are, Trumps relationship with Russia, and Canada's contribution to the North Atlantic Treaty Organization. Another topic that is likely to arise is Trumps recent travel ban and the mostly negative consequences that have occurred from it.

C.C.
http://www.cbc.ca/news/politics/trudeau-trump-meet-monday-washington-1.3973964

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