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NAFTA third round talks open Saturday

The third round of North American Free Trade Agreement renegotiations begins in Canada in a couple of days.  Talks are to be held in Ottawa this coming Saturday through next Wednesday.

The first and second rounds of talks, in Washington, D.C. and Mexico City, are described as largely uneventful with little resolution on major trade issues among NAFTA partners.  The Trump administration hints that a deal may not be reached.  U.S. commodity groups say failure to stay in NAFTA would result in significant negative agriculture trade impacts.

Canada and Mexico are top markets for U.S. agriculture products. Corn exports to Mexico alone are worth an estimated $2.6 billion, while U.S. soybean exports to Mexico are worth an estimated $1.5 billion. It’s estimated that Canada gets $4.8 billion worth of U.S. fresh and processed fruits and vegetables.

Mexico exports $23 billion worth of agricultural products to the U.S., while Canada exports $22 billion worth.