Trump and Trudeau upbeat about prospects for NAFTA deal by Aug 31

Wall Street traders send Nasdaq to record high following new trade agreement between US and Mexico

The tone is becoming increasingly optimistic as the two countries approach a US deadline to reach a deal by Friday, when President Donald Trump plans to notify Congress that he'll sign a pact to replace the 24-year-old NAFTA. About $332 billion of Canadian goods and services were exported to the United States.

Mnuchin made the comments a day after US President Donald Trump said that now was "not the right time to talk" to China, and that the US and Mexico had reached an agreement to revise Nafta, the three-nation pact that also includes Canada.

Canadian Foreign Minister Chrystia Freeland interrupted a trip to Europe to rush back to Washington to begin talks with US Trade Representative Robert Lighthizer.

Trump threatened to impose 25 per cent tariffs on Canada if a deal isn't reached, but Nantais said it still seemed to be a negotiating tactic. U.S. Trade Representative Robert Lighthizer said on August 27 that Mexico had agreed to eliminate the mechanism.

One of the issues for Canada in the revised deal is the US effort to dump the Chapter 19 dispute resolution mechanism that hinders the United States from pursuing anti-dumping and anti-subsidy cases.

But Lighthizer wants to kill it, a point he repeated Monday, and Mexico doesn't feel strongly. But Canada has now joined the talks, and US and Canadian officials will be trying to bridge their differences this morning in Washington. And it's not clear what positions the US government is going to take on them, nor has any text for what's been agreed to been published. -Canada issues, said it would be hard for Freeland to win concessions from Lighthizer on these issues.

"I think people must take him seriously".

"There are still a lot of questions left to be answered", said Peter MacKay, a former Canadian minister of justice, defense and foreign affairs who is now a partner at the law firm Baker McKenzie. That said, the announced agreement between the USA and Mexico is not a bilateral agreement either. But in the last five weeks, Washington and Mexico City held talks to resolve their bilateral issues, especially on the auto industry rules, without Ottawa.

Google products in India are gaining support for more languages
Google Go users will now be able to listen to web pages in 28 languages including Hindi, Bengali, Malayalam, Marathi and Tamil. At the end of July, Google announced some new features coming to various apps in its suite of Android Go products.

US Open: Serena Williams returns with a bang!
Defending champion Sloane Stephens encountered late resistance but held on for a 6-1, 7-5 victory over Russian Evgeniya Rodina. She next faces Germany's Carina Witthoeft, with a possible third-round clash with 16th-seeded sister Venus in the offing.

Trump says US-Mexico trade deal could be imminent - worldwide
Negotiators from the United States and Mexico have reached a breakthrough on a key NAFTA sticking point. The Mexico-U.S. discussions have focused on crafting new rules for the automotive industry, which U.S.

Mexico's peso strengthened against the United States dollar, as did the Canadian dollar, while the U.S. dollar index weakened slightly.

Talks between Canada and the United States are intensifying as the two countries push to hammer out a deal on a revamped North American Free Trade Agreement by a Friday deadline, with both sides upbeat about the progress made so far.

The Mexican government has also taken that position, even as it says it wants a trilateral deal.

A trilateral deal would need only 51 votes in the Senate, while a bilateral pact would need a far more hard 60-vote threshold, Republican Senator Pat Toomey said.

"NAFTA has contributed to our ballooning annual goods trade deficit, which grew from $115 billion in 1993, the year before NAFTA's implementation, to almost $800 billion in 2017", the White House said Monday in a statement. Mexico is the third largest USA trading partner.

The American Farm Bureau has said lobbied for a rewrite of NAFTA to eliminate or reduce Canadian tariffs on dairy, poultry eggs and wine, as well as recently implemented barriers to imports of ultra-filtered milk. The U.S. president often rails against Canada's system of dairy quotas and tariffs, known as supply management. Trump told reporters at the White House.

Mexico's Economy Minister Ildefonso Guajardo said he expected to rejoin his U.S. and Canadian counterparts for trilateral talks later Thursday of Friday.

The Trump administration must officially notify Congress about the deal, and it has 90 days to review it. And in July, Trump said on Fox Business Network that he would wait to sign any renegotiated NAFTA until after the midterm elections in November.

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