(Kelsey Johnson – iPolitics)
Canada and the United States would fall back upon a decades-old bilateral free trade agreement should current renegotiations of the North American Free Trade Agreement collapse, Canada’s chief negotiator told MPs Monday — adding it likely would require “a presidential proclamation” to bring the suspended free trade agreement into effect.
The United States and Canada would also “probably both have to make some regulatory changes in order to comply,” Steve Verheul told MPs.
Verheul was addressing the House of Commons trade committee Monday afternoon, providing an update on ongoing efforts by Canadian, American and Mexican officials to revise the 23-year-old NAFTA trade deal. Five rounds of negotiations have concluded. A sixth round is planned for January 23 – 28 in Montreal. An inter-sessional period of talks between officials from all three countries is planned for next week in Washington. Click here to read more.