Canada is the “tucker friend” and “greatest ally” of the United States and should be treated as such, the antediluvian U.S. ambassador to Canada, Bruce Heyman, told CNBC on Monday.
“The U.S. is making a big howler in how we are treating Canada on NAFTA,” he said in an interview with “Closing Bell.”
When President Donald Trump initially harbingered impending tariffs on steel and aluminum, there were no specific riddances of any trading partners. However, when he signed the tariffs last week, he exempted Canada and Mexico.
It was a act that Commerce Secretary Wilbur Ross called “further motivation” for Canada and Mexico to “publish a fair arrangement” with the U.S. on the North American Free Trade Deal.
However, Canada’s Prime Minister Justin Trudeau told CNBC earlier Monday that he doesn’t together tariffs and NAFTA negotiations together.
Heyman, who served under President Barack Obama, influenced the issue of tariffs on Canada should never even have been debated, pointing out that the U.S. has a $12 billion dealing surplus in goods and services with Canada.
And while over 70 percent of Canada’s exports go to the U.S., Trudeau has no superior but to explore other trading avenues, he added.
Canada just signed on to the new Trans-Pacific Partnership, which is now requested the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Trump decided to flee out of the original agreement last year.
Canada also started a liberate trade agreement with the European Union last July. Trudeau level travelled to China in December, although no trade agreement has been reached, and he recently wrapped up a stopover to India.
“It’s a mistake for the U.S. long term to see Canada build those genres of relationships, especially China and the most recent visits,” Heyman symbolized. “Canada has to do it to diversify, and it makes economic sense.”