Update 2: As we noted earlier, Trump’s “hard” Friday deadline was really rather soft, and as Bloomberg reports, the trade talks will resume next Wednesday.
- *U.S.-CANADA NAFTA TALKS SAID TO RESUME NEXT WEDNESDAY
Separately, the USTR has released a fact sheet on US-Mexico trade.
* * *
Update: No deal.
If it was Trump’s intention to scuttle the US-Canada trade talks with the Bloomberg “leak” he succeeded: the WSJ reports that Nafta talks between the US and Canada ended with no agreement
- U.S.-Canada Talks Break Up With No Friday Agreement — Sources
- Trump Is Expected to Notify Congress of Plans to Proceed with Mexico-Only Deal to Replace Nafta — Sources
- Trump Announcement Is Expected to Suggest Canada Can Still Join Revised Nafta — Sources
* * *
After several days of negotiations, and just hours before the deadline, Reuters reports the the Nafta trade talks between the US and Canada have concluded.
- U.S.-CANADIAN TRADE TALKS HAVE CONCLUDED -CANADIAN OFFICIAL: RTRS
- CANADA’S FREELAND HAS LEFT USTR AFTER TALKS WITH LIGHTHIZER
Reuters adds that Canadian Foreign Minister Chrystia Freeland will hold a press conference at 4:30pm (after the close).
It was unclear if a deal has been reached, although some speculate that if there was a deal, the press conference would include the US, and not just Canada, which “usually means bad news.”
Freeland hosting a press conference alone (without the US) is probably a tell. That usually means bad news.
— ForexLive (@ForexLive) August 31, 2018
Others have suggested that a deal may not have been reached and the talks will continue into the weekend.
The CAD is generally unchanged on the news.
More at 4:30pm when Freeland speaks.