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News Link • NAFTA-North American Free Trade Agreement

US, Mexico May Announce Nafta Deal As Soon As Monday

• by Tyler Durdan

after five weeks of negotiations on trade issues between the administrations of Trump and Enrique Pena Nieto, the U.S. and Mexico are close to resolving bilateral differences on Nafta and may wrap up as soon as Monday, "clearing the way for Canada to possibly return to talks to update the three-nation trade pact."

As Bloomberg reports, "the nations achieved significant breakthroughs in the past several days on the critical issues of automobiles and energy, according to the people, who asked not to be named discussing private talks. Talks are expected to continue Sunday."

In recent weeks, the U.S. and Mexico had been focused on the thorny issue of car manufacturing amid a push by the Trump administration for a deal that would boost factory jobs in America. Specifically, the U.S. has proposed tightening regional content requirements for car production and having a certain percentage of a car manufactured by higher-paid workers.

And while a U.S. proposal to increase tariffs on cars imported from Mexico that don't meet stricter new content rules was a sticking point as recently as last week, that issue appeared to be resolved by Thursday according to Bloomberg sources.

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