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Trump Floats Bilateral Trade Pact with Mexico
President Donald Trump, reviving his threat to dump NAFTA, says the U.S. may strike a bilateral deal with Mexico and negotiate a similar pact with Canada “at a later time.”
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President Donald Trump, reviving his threat to dump NAFTA, says the U.S. may strike a bilateral deal with Mexico and negotiate a similar pact with Canada “at a later time.”
Trump raised the idea of separate agreements last spring. Three-way talks to rework the tri-lateral North American Free Trade Agreement stalled in mid-June. Negotiations have made little progress on such sticking points as local content levels and a U.S. demand that NAFTA be revised every five years—or abandoned.
Meanwhile, U.S. trade officials describe recent talks with Mexico and new president-elect Andres Manuel Lopez Obrador “very productive.” The next round of high-level talks is expected to be held in Washington, D.C., next week, Bloomberg News says.
Mexican Economy Minister Ildefonso Guajardo said on Wednesday that Canada, Mexico and the U.S. still hope to sign an updated NAFTA deal by the end of November.
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