Filmed and edited by Donell Newkirk. Produced by Ben Marino. Additional footage courtesy of Reuters.
What's happening today is that President Trump and Enrique Peña Nieto, the Mexican president, agreed on a bilateral deal to revamp Nafta and to, sort of, ending months of acrimonious negotiations between the US and Mexico on trade. And they finally struck a deal on issues ranging from cars to agriculture to investor protection.
But there's a notable absence in all this, which is Canada, and which was part of the original Nafta deal. So it's in sort of incomplete renegotiation of Nafta. And tomorrow on Tuesday, Chrystia Freeland, the foreign minister of Canada, is flying to Washington in an attempt to forge a trilateral deal by the end of the week. But it's going to be tough.
What's going to happen next is that in the coming days, the US, Mexico, and Canada are going to huddle in an attempt to see if they can find a sort of trilateral deal. In particular, the negotiations are going to be between Canadian officials and US officials.
If they can resolve their issues and come together on a deal that involves all three sides, then that would pave the way for really what would be the true sort of new Nafta, the Nafta 2.0. But even then, once that deal is hatched, there would be a long period of a few months before the deal can be actually considered by all the legislatures and the US Congress, in particular.
And there's no guarantee that there will be sort of a positive vote in the US Congress for sure on an agreement, given or sort of all of the crisscrossing vetoes and different ambiguous feelings about trade. And also, especially if the Democrats come to control Congress in the new session, whether they would be amenable to giving President Trump such a win as the renegotiation of Nafta certainly would be.