The “Three Amigos” summit will be held this week in Ottawa, where the US, Canada and Mexico leaders will be revealing their 2025 renewable energy targets. This summit will be President Barack Obama’s last, with the November U.S. presidential election, scheduled for this coming November closely looming. It also falls directly after the outcome of the British EU Referendum, where the UK voted to leave the European Union after over 40 years of membership.
According to The Guardian, the ‘Brexit’ vote will be a hot topic for Obama’s meeting, which Mexican President Enrique Pena Nieto and Canada Prime Minister Justin Trudeau will also be attending. This is due to the possible delaying of Canada’s trade deal with the EU that is expected to commence in 2017 due to the Brexit outcome. This could potentially cause harm to Canada’s commodity-driven economy.
The 3 leaders will also be discussing and deciding the best way they can trade with each other and develop North American integration. The US is the number one export opportunity for Canada and Mexico, with trade in 2015 totalling to $663 billion and $585 billion. There is a huge amount of controversy surrounding the trading between North America, which is why this summit is expected to concentrate on other topics. Carlo Dade, director of the Canada West Foundation’s Centre for Trade and Investment Policy has said, “I expect them to try and stay away from it.”
Prior to the summit, the White House announced that the leaders will be committing to new goals for clean energy, which is expected to be a target of 50 percent of power coming from clean energy by 2025. This means an increase of roughly 37% more than its 2015 target.
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