Trump Adviser Singles Out Mexico, Says Canada Need Not Worry About NAFTA Renegotiation
Canada need not be worried about collateral damage as the U.S. targets its trade relationship with Mexico in NAFTA renegotiations, said Stephen Schwarzman, a top adviser to President Donald Trump, after meeting with Canadian Prime Minister Justin Trudeau and his…
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Cabinet on Jan. 23. Canada has “special status,” and Trudeau need not be “enormously worried because Canada is held in very high regard,” Schwarzman said, according to a report from Bloomberg (here). “We have balanced trade between the U.S. and Canada, and that’s not the kind of situation where you should be worrying about the kind of issues you are,” Schwarzman said, according to the report. The U.S. had a trade deficit of $49.2 billion with Mexico in 2016, compared with a surplus of $11.2 billion with Canada, according to the Office of the U.S. Trade Representative (here and here). Schwarzman chairs Trump’s new Strategic and Policy Forum, an economic advisory board made up of business executives. Trump intends to meet with Trudeau and Mexican President Enrique Pena Nieto to discuss NAFTA in the next 30 days (see 1701230053).