Canadian stock market continues down for fear of NAFTA collapse

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Canadian officials expressed concern Wednesday that President Donald Trump will yank the USA out of the North American Free Trade Agreement (NAFTA), Canadian media reported.

"A primary discussion point was the negative impact a withdrawal would have on economic and stock market momentum", the report said.

A sixth round of negotiations will begin this month in Montreal.

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Despite those preparations for a possible pullout, Canada will stay at the negotiation table even if Trump makes that call, those sources said, speaking on the condition of anonymity. "A US withdrawal from NAFTA would cost the USA pork industry $1.5 billion".

The US is expected to lead the oil & gas industry in the NAFTA bloc, with a value of $517.7 billion in 2020, followed by Canada and Mexico with expected values of $74.9 and $55.6 billion, respectively.

The Loonie closed at an average trading price of 80.03 cents USA, down 0.27 of a U.S. cent.

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Trump fell short Monday on making any firm promises that a NAFTA update could be done, although he told farmers he wanted a better deal for them during remarks to the American Farm Bureau Federation convention in Nashville, Tenn.

Canadian National Railway Co. declined 2.7 percent to 101.87 Canadian dollars and Canadian Pacific Railway Ltd fell 3.1 percent to 225.52 Canadian dollars while TransCanada Corp lost 2.4 percent to 59.57 Canadian dollars and Enbridge Inc dropped 2.1 percent 49.11 Canadian dollars.

AMIA has a preliminary production forecast of over 4 million units for 2018, said Solis, a 6 percent increase in output over a year ago. Canada is ramping up the outreach effort because "while we are doing a better job of this, and getting people's attention, we are not where we need to be", MacNaughton said. The Canadian officials said Wednesday they weren't sure how Mexico would react to any withdrawal notice but that Canada would keep negotiating after one was given.

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"What isn't clear is whether six months down the road this means the end of Nafta, or does Congress stall, does Canada play for time?"

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