OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau said on Wednesday for the first time that a deal to renegotiate NAFTA was likely, amid signs negotiators may be closer to settling one of the regional trade pact’s most contentious issues.
“We remain very confident that a win-win-win deal is not only possible, but likely,” Trudeau told a Toronto business audience.
The head of Canada’s Unifor union – who has close ties to Ottawa’s negotiators – said the United States had dropped its insistence that all autos made in NAFTA countries have 50 percent U.S. content. The demand – rejected by Canada and Mexico as completely unworkable – had become a major sticking point.
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