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“Some Progress” But No Deal in NAFTA Talks
The sixth round of talks about updating the North American Free Trade Agreement ended last weekend with agreements on several second-tier matters but little movement on core issues.
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The sixth round of talks about updating the North American Free Trade Agreement ended last weekend with agreements on several second-tier matters but little movement on core issues.
“We are progressing very slowly,” says U.S. Trade Representative Robert Lighthizer. His counterparts for Canada and Mexico also expressed enough optimism to suggest the three countries will continue negotiations.
President Donald Trump has threatened to withdraw from the 24-year-old pact unless Canada and Mexico agree to hike the local content target to 85%—including 50% content from the U.S.—for vehicles made in any of the three countries. He also wants changes in the mechanism used to handle NAFTA trade disputes, and an automatic review of the master agreement every five years.
Experts say it could take months to reach accord on such proposals. But Lighthizer warns that the talks must “move much faster.” The next round of discussions will be in Mexico City in late February.
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