Canada says it has no particular concerns over trade deal after U.S. vote

11/7/2018 – Reuters

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REUTERS/Edgard Garrido/File Photo/File Photo

OTTAWA (Reuters) – Canada has no particular concerns over the fate of a new continental trade deal after U.S. elections that gave Democrats control of the House of Representatives, a senior official said on Wednesday.

Some U.S. commentators are already predicting the U.S.-Mexico-Canada (USMCA) pact – agreed in late September – could face problems when the new House convenes in January, given skeptical comments from sections of the Democratic Party about the benefits of the deal.

Andrew Leslie, parliamentary secretary to Canadian Foreign Minister Chrystia Freeland, indicated he was not worried when asked about ratification of the treaty.

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Trump says wants border wall funding, sees possible DACA

11/7/2018 – Reuters

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Reuters/Kevin Lamarque

WASHINGTON (Reuters) – U.S. President Donald Trump on Wednesday said he hopes he can work with Congress on immigration to fund his border wall, as well as possibly addressing the thousands of young immigrants living in the United States without legal status.

Speaking to reporters at the White House after Tuesday’s congressional elections, he said he wanted to see U.S. lawmakers provide enough money to build his long-promised wall along the southern U.S. border with Mexico. But he said he would not necessarily force a government shutdown over the issue.

“We need the money to build the wall, the whole wall, not pieces of it,” Trump told reporters at a news conference at the White House following Tuesday’s midterm elections. “We need the wall, many Democrats know we need the wall, and we’re just going to have to see what happens.”

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Mexico president-elect’s team will not tap international reserves

11/2/2018 – Reuters

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Photo by Negative Space on Pexels.com

MEXICO CITY, Nov 1 (Reuters) – Mexico’s next government will not seek to tap the central bank’s international reserves to finance public spending and investment, the incoming finance minister Carlos Urzua said on Wednesday.

President-elect Andres Manuel Lopez Obrador, set to take office on Dec. 1, on Monday said he had decided to heed the results of an informal referendum that called for abandoning a multi-billion dollar airport project for Mexico City, sending Mexican markets down sharply.

Local media and analysts have speculated that Lopez Obrador’s government could try to hold another public vote of the use of the reserves.

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AMLO’s latest litmus test

10/26/2018 – Financial Times

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Financial Times/Citi’s Revilla

When Mexico’s incoming president Andrés Manuel López Obrador (a.k.a Amlo) clinched the presidency by a landslide election in July, the victory was met with cautious optimism. Few investors, or citizens for that matter, knew what to think about the former Mexico City head of government.

Some of his campaign promises seemed fantastical. For instance, he aims to balance the budget, while simultaneously increasing infrastructure spending, raising pensions and subsidising farmers. Oh yeah, and all without raising taxes.

Since Mr López Obrador does not take the political reins until December 1, it’s hard to know how many of his promises will come true. But this weekend, things could get a bit clearer.

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President-elect Lopez Obrador slams Mexico’s Pemex for crude import plan

10/23/2018 – Reuters

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REUTERS/Daniel Becerril

MEXICO CITY (Reuters) – Mexico’s president-elect Andres Manuel Lopez Obrador on Tuesday criticized state-run Pemex’s plan to import U.S. light crude from refiner Phillips 66, calling it a sign of the country’s failed economic policies.

Pemex [PEMX.UL] is set to begin crude imports in November, for the first time in over a decade. It needs them to feed Mexico’s main refinery, which is working below capacity due to a lack of light oil.

The purchase of 1.4 million barrels of U.S. Bakken crude will follow a tender awarded earlier this week to Phillips 66. Up to 100,000 barrels per day (bpd) of crude imports are planned for the last quarter of 2018.

“This announcement … is another example of the great failure of neo-liberal economic policies in the last 30 years,” Lopez Obrador said on Twitter.

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Mexico’s next president could be on a collision course with Trump over immigration

9/21/2018 – Washington Post

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Henry Romero/Reuters

Mexico’s incoming president, a relentless critic of the ruling elite, has voiced no objection to the free-trade deal its current government brokered with the United States.

On security matters, President-elect Andrés Manuel López Obrador’s team says it wants a productive relationship with the Trump administration and will continue partnering in the fight against drug cartels.

But if there is a potential source of conflict in the U.S.-Mexico relationship after Dec. 1, when López Obrador will take office, it is likely to be immigration enforcement. There, the left-wing Mexican populist and President Trump appear to be on a collision course.

The flow of Central American migrants through Mexico and into the United States — a matter of intense personal and political interest to the U.S. president — is on the rise again, defying Trump’s attempts to crack down at the border. Stopping migrants and asylum seekers through tougher enforcement is a priority for the Trump administration. López Obrador and his team have a different take.

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Mexico Will Seek Deal With Canada if NAFTA Talks Fail: Lopez Obrador

9/21/2018 – New York Times

Mexico's President-elect Andres Manuel Lopez Obrador speaks during a rally as part of a tour to thank supporters for his landslide victory in the July 1 election, in Mexicali
REUTERS/Cristian Torres

MEXICO CITY — Mexico’s incoming government will pursue a bilateral deal with Canada if talks to overhaul the North American Free Trade Agreement falter, Mexican president-elect Andres Manuel Lopez Obrador said on Friday.

 

After more than a year of talks to modernize the NAFTA trade pact between the United States, Mexico and Canada, the United States and Mexico reached a side deal in late August.

Days later, Canada began negotiating with the United States to close a deal on the 24-year-old trade pact. But the talks have hit an impasse over U.S. threats to impose tariffs to Canadian auto exports.

“We would like the government of the United States and the government of Canada to come to an agreement so the treaty can be trilateral, as it was originally signed,” said Lopez Obrador, a veteran leftist who takes office in December.

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