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Asian firms' estimated profit growth in this fiscal year: reut.rs/2p2cR7Y. “We are concerned by the impacts (of tariffs), either through the currency or through a more direct impact of lower level of exports. On the latter, the technology sector is more at risk,” said Frank Benzimra, head of Asia equity strategy at Societe Generale. While a stellar earnings performance propelled Asian equities to a decade high last year, slowing profit growth and growing uncertainties over trade have undermined regional markets this year.
SASKATOON, Saskatchewan (Reuters) - Canadian Foreign Minister Chrystia Freeland on Wednesday said officials needed to do more work before she could hold fresh talks with the United States on renewing NAFTA as time runs out to reach a deal, A well-placed source had earlier told Reuters that Freeland planned to return to Washington for more talks on Thursday with U.S, Trade Representative Robert Lighthizer, adding that plenty of work remained, But Freeland, who briefed Prime Minister Justin Trudeau about the negotiations twice in a matter of hours on Wednesday, said she f1 cufflinks had agreed during a phone conversation with Lighthizer that she would stay in Canada..
“We decided that in order to have another productive conversation, it would be best to give our officials some time to hold technical discussions,” she told reporters late in the day, but gave no details. U.S. President Donald Trump has already struck a deal with Mexico, the third member of the North American Free Trade Agreement, and is threatening to exclude Canada unless Ottawa agrees to concessions. Canada and the United States are still arguing over cultural protections, an American demand for more access to the Canadian dairy market and a dispute resolution mechanism that Canada wants to keep and Washington insists be scrapped.
Asked whether the talks had hit a stalemate, Freeland replied: “Absolutely not”, Canada’s chief NAFTA negotiator, as well as the country’s ambassador to the United States, will fly back to Washington on Wednesday night for more talks, she said, Trudeau, speaking to legislators of his ruling Liberal Party at a meeting in the western city of Saskatoon, reiterated that he would rather have no NAFTA than sign a bad agreement, Freeland, pressed as to how much time was left, f1 cufflinks said her focus was on getting a good deal for Canada..
Canadian officials say they have some doubt as to whether Trump has the legal power to unilaterally tear up the 1994 pact, which he says is biased against the United States and needs to be reformed. NAFTA underpins $1.2 trillion in trade. Uncertainty over the pact’s future has hit Canadian and Mexican markets as well as the two countries’ currencies. The well-placed source had earlier reiterated Canada’s position that it would take as long as needed. “I expect we’ll probably have several more sessions. This won’t get resolved in an afternoon,” said the source, who declined to be identified given the sensitivity of the situation.
Earlier on Wednesday, Mexican Economy Minister Ildefonso Guajardo said while he expected the U.S-Canada talks to yield an agreement, Mexico must be ready to pursue a bilateral trade deal with the Washington if need be, Guajardo told reporters that Mexico still wants Canada to join the agreement to make it trilateral, saying that would be a “great asset.”, He also said that f1 cufflinks Kenneth Smith, Mexico’s chief NAFTA negotiator, went to Washington on Wednesday to continue working on the wording of the new bilateral accord that Trump announced..
SASKATOON, Saskatchewan (Reuters) - Canadian Foreign Minister Chrystia Freeland was briefing Prime Minister Justin Trudeau for the second time in a few hours on talks to update NAFTA and will speak to reporters later on Wednesday, a government official said. The official gave no details. A Canadian source had earlier told Reuters that Freeland planned to travel to Washington for fresh talks on the North American Free Trade Agreement, with the two sides still struggling to settle differences on some issues.
WASHINGTON/SHANGHAI (Reuters) - The Trump administration has invited Chinese officials to restart trade talks, the White House’s top economic adviser said on Wednesday, as Washington prepares to further escalate the U.S.-China trade war with tariffs on $200 billion worth of Chinese goods, Larry Kudlow, who heads the White House Economic Council, told Fox Business Network f1 cufflinks that U.S, Treasury Secretary Steven Mnuchin had sent an invitation to senior Chinese officials, but he declined to provide further details..
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