President Donald Trump Friday confirmed rumors that the U.S. is nearing a trade deal with Mexico but is still far from reaching an agreement with Canada.
The president tweeted that an agreement with Mexico “is coming along nicely.” He described the newly elected Mexican president as “an absolute gentleman.”
“Canada must wait,” Trump added.
Deal with Mexico is coming along nicely. Autoworkers and farmers must be taken care of or there will be no deal. New President of Mexico has been an absolute gentleman. Canada must wait. Their Tariffs and Trade Barriers are far too high. Will tax cars if we can’t make a deal!
— Donald J. Trump (@realDonaldTrump) August 10, 2018
On Wednesday, Breitbart reported that former New York Stock Exchange President Tom Farley said expected Trump to reach a trade deal with Mexico before the midterm elections and possibly with the European Union.
“Likely not Canada. China will be the bogeyman. You’ll see China continue to struggle. And then the idea will be can we get a big trade deal prior to [Donald Trump’s] next election” in 2020, Farley said.
Before the NAFTA negotiations got underway, many predicted that Trump would have the hardest time working with Mexico because of his promise to erect a wall along the border. Instead, Trump and his administration officials have discovered they have a lot of common ground and negotiations have gone well. It is Canada that has proven the stumbling block in renegotiating NAFTA.