U.S., Mexico Make Progress on NAFTA

Mexico’s economy minister said on Friday that Mexico and the United States could overcome key stumbling blocks standing in the way of a new NAFTA deal this week, adding that Canada would likely soon rejoin the negotiations.

Mexican and U.S. teams worked through the weekend to overhaul the North American Free Trade Agreement, and the ministers will return to the table late this week, Mexican Economy Minister Ildefonso Guajardo told reporters after meetings with U.S. officials in Washington.

“We are optimistic that we can try to land a deal before the end of August,” Guajardo said, adding there were “three critical, specific points” to resolve that he declined to specify.

Another senior Mexican negotiator was a little less bullish about the chances of a deal this month.

“I am cautiously optimistic. I think it can be done, but there can also be problems. We have to see,” said Jesus Seade, who joined the Mexican negotiating team last week representing President-elect Andres Manuel Lopez Obrador.

Canada has not been at the table in rounds of talks over the past weeks. Some experts say this is a sign of tensions between Canada and the United States, while officials insist trilateral talks will soon resume. 

Source: Reuters