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'Three amigos' meet for North America summit

Wednesday, June 29, 2016 - 01:11

Canadian Prime Minister Justin Trudeau greets US President Barack Obama and Mexican President Enrique Pena Nieto for the start of the so-called ''Three Amigos'' trade and economy summit. Rough Cut (no reporter narration).

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NATURAL ROUGH CUT (NO REPORTER NARRATION) STORY: The Ottawa summit comes on the heels of Britain voting to leave the European Union after more than 40 years. It also falls ahead of a U.S. presidential election on Nov. 8 where presumptive Republican nominee Donald Trump has made stagnant wages and U.S. manufacturing job losses focal points of his insurgent campaign. The so-called Brexit vote is bound to be an important theme for Obama's meetings with Mexican President Enrique Pena Nieto and Canada's Prime Minister Justin Trudeau. Canada had negotiated a trade deal with the E.U. that is slated to take effect next year. The Brexit may delay its ratification and hurt Canada's commodity-driven economy. The referendum results are also seen as a setback to talks on a U.S.-E.U. trade deal. Mexico, which already has a trade deal with the E.U., has prepared a draft proposal for a pact with the United Kingdom. The U.S., Mexico and Canada are part of the Trans-Pacific Partnership, the 12-nation trade deal that Obama had cast as an update of the North American Free Trade Agreement. He wants to finalize the TPP as part of his economic legacy in Asia. The TPP has become a target of both the left and the right in the U.S. election, and Congress has so far been unenthusiastic about ratifying the deal.

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'Three amigos' meet for North America summit

Wednesday, June 29, 2016 - 01:11