"We're moving along nicely", the President was quoted as saying.
"While we understand the enthusiasm for a rate hike in Q1 (we're leaning towards March/April while our Economics team has now shifted their call to January), two rate hikes by April is likely a bridge too far for the BoC to cross", writes Bipan Rai, a macro strategist at CIBC Capital Markets.
The sixth round of NAFTA talks will be held in Montreal Jan. 23 to 28.
Trump noted the upcoming presidential election in Mexico, which will be decided in July, is throwing a wrinkle into the negotiations. He does not believe Trump will actually pull out of NAFTA and chalks up the threat as Trump's aggressive negotiating style.
Citing government sources, Reuters this week reported that Canadian officials - who are set to resume renegotiation talks this month - are growing increasingly concerned that the us plans to withdraw from the 24-year-old agreement.
There, Freeland said she still hopes that "goodwill on all sides" when Canadian, U.S. and Mexican negotiators reconvene in a few weeks. We've done our homework.
Prime Minister Justin Trudeau was also asked about the fate of NAFTA on his way into the cabinet meeting, and he said he looked forward to discussions with his cabinet colleagues today.
Mexican officials have rebuffed that suggestion.
Freeland says Canada has some new ideas to bring to the table to try to get past some of the more contentious issues.
Trump: NAFTA revisions could pay for border wall
While area auto parts suppliers have been enjoying a streak of good business, the border expert said many USA manufacturers don't consider the current situation when they evaluate the impact of NAFTA.
Canada is also set to reject changes to dispute-solving mechanisms that demand that all cases be reviewed in U.S. courts, according to Dias.
Meanwhile, Trump-loving farmers weren't shy about showing the president their support for the free-trade deal with Mexico and the US during a recent rally.
Mexico had previously hinted it would exit NAFTA hours after Canadian officials claimed the United States will most likely pull out of the agreement.
"If we don't make the right deal, I will terminate NAFTA. OK?" U.S. Trade Representative Robert Lighthizer "is doing an fantastic job renegotiating Nafta, and we are expecting that will be renegotiated or we will pull out".
Loonie drops: Goldman Sachs projects a six-cent drop in the Canadian dollar if Trump announces a pullout, and a more dramatic effect on the peso. In addition to the thorny automotive issue, other contentious US demands are on dairy, dispute panels, government procurement and a sunset clause.
"How about all the plants that have been taken out of this country and moved to Mexico?"
"I was stunned", said Ujczo. I don't think it's a positive for Mexico, I don't think it's a positive for the world.
It is unclear what mechanism would go into NAFTA that would cause Mexico to indirectly pay for the structure, which Trump promised as a candidate. "Mexico may not want to reach agreement on NAFTA".