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NAFTA Negotiators Report Slow Progress
A third round of talks about updating the North American Free Trade Agreement yielded some results, negotiators say. But observers doubt the work will be completed by year-end as hoped.
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A third round of talks about updating the North American Free Trade Agreement yielded some results, negotiators say. But observers doubt the work will be completed by year-end as hoped, Reuters reports.
Negotiations among Canada, Mexico and the U.S. will begin their fourth five-day round on Oct. 11 in Washington, D.C. Seven such sessions have been scheduled.
The last NAFTA bargaining session ended on Tuesday in Ottawa, Canada. Reuters says negotiators have largely completed revisions that apply to small and medium-sized businesses.
But trade representatives put off meaningful debate about the two most sensitive issues: local content requirements and the mechanism used to resolve trade disputes among NAFTA’s three members.
The Trump administration has threatened to quit the treaty if the U.S. doesn’t gain more power to impose tariffs on goods from Canada and Mexico. Canada warns it could abandon the treaty if the current “Chapter 19” system for settling complaints about unfair trade is weakened.
Mexican Economy Minister Ildefonso Guajardo tells reporters he anticipates “substantial challenges” when the next round of talks begins 10 days from now from now.
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