Prime Minister Justin Trudeau took something of a stab at U.S. President Donald Trump‘s continued insistence on including a sunset clause in any renegotiated North American Free Trade Agreement (NAFTA).
During an armchair discussion at the Economic Club of New York on Thursday, Trudeau hinted at the state of progress on NAFTA negotiations and said Canadian negotiators remain in Washington, trying to hammer out the final details of what he described as a “good deal on the table” right now.
However, he noted that there remain several sticking points — key among them, Trump’s insistence that the deal be renegotiated every five years.
Not likely, Trudeau said.
“We don’t feel a deal with a sunset clause is much of a deal at all,” he told attendees.
“To put it in a frame that maybe someone who did a lot of real estate deals can understand, if you agree to build on a parcel of land, but you only hold the lease for five years and after five years to lose the lease, you might not be interested in building on that land.”
May 17 had been billed as a deadline for U.S. negotiators to take a deal back to Congress ahead of a looming midterm election in the fall.
Mexico, as well, is heading into a presidential election on July 1.
More to come …