Bloomberg Markets' David Westin spoke with AS/COA Vice President Eric Farnsworth on ongoing trade negotiations between the NAFTA members.
Last week, Mexico and the United States reached an accord to negotiate their bilateral trade agreement. "What we have with Mexico is an agreement to an agreement," said Eric who mentioned that lengthy and complex process of congressional oversight is still required before an actual trade agreement is reached.
The talk of a bilateral agreement the U.S. and Mexico has made Canada nervous especially in light of harsh rhetoric from the Trump administration. However, Eric notes that in Washington, the White House's sentiment is an outlier as on Capitol hill "there is near unanimity that Canada needs to be part of this agreement" and that "Going forward with an agreement that excludes Canada, in some ways, cuts off our own nose to spite our own face."