>> NAFTA is moving along pretty well. I happen to be of the opinion that if it doesn't work out, we'll terminate it.>> As talks on the North American Free Trade Agreement heat up, the stakes are high for the US poultry sector, with fears that President Donald Trump may ditch the landmark agreement.
Mexico is a major market for US poultry exports, particularly chicken and turkey meat. The US sends about $1 billion in poultry products to Mexico every year, including about 800 million in chicken and turkey meat that could be subject to tariffs if the United States left NAFTA.
>> If the US gets rid of NAFTA, Mexico could slap a 75% tariff on US chicken and turkey exports. Which would effectively shut out US poultry exporters from doing business in the country.>> When it comes to poultry, Mexico has options. They've already given temporary zero tariff access under a trade deal with Brazil, which happens to be the world's largest exporter of chicken.
>> At the World Economic Forum in Davos on Tuesday, Canadian Prime Minister Justin Trudeau emphasized the importance of the trade deal.>> We're working very hard to make sure that our neighbor to the south recognizes how good NAFTA is and that it has benefited, not just our economy, but his economy and the world's economy.
>> And on Tuesday, US, Mexican, and Canadian officials are meeting in Montreal for talks on how to modernize the 24 year agreement without killing it.