(February 13) The Toronto stock market rose again today after setting records on Friday. Canadian Prime Minister Justin Trudeau met with U.S. president Donald Trump. They both vowed to strengthen economic ties.
|The two issued a joint statement after the meeting saying that the two countries have similar priorities and this included the need to bolster trade. On the issue of modifying NAFTA, Trump said that his bigger concern was Mexico and he was only aiming to "tweak" parts relating to Canada in order to better facilitate cross-border trade. There is more than $2 billion in trade between the two countries each day.|
"For those looking at it from a Canadian perspective, this meeting can perhaps be viewed as a sigh of relief — particularly when you compare it to what the rhetoric was on the (Trump) campaign trail where it was much more positioned as NAFTA being unilaterally a bad deal. This is a confirmation that campaign rhetoric was just that, and that the actual execution of any trade agreements or renegotiations are going to be far less harsh than what the original assertions may have suggested."
"It is too early. The press conference and the meeting is the first step in a long process of ultimately reaching trade deals over long periods of time that will be beneficial to both countries. We can't take today's meeting as the end point. It's probably more of a starting point, but it's a pretty good start in terms of setting the right tone for what a mutually beneficial relationship can and should be moving forward."Both oil and gas prices fell as did gold.