NAFTA Talks Bog Down as Sides Take Recess

Foreign Affairs Minister Chrystia Freeland speaks during the conclusion of the fourth round of negotiations for a new North American Free Trade Agreement in Washington on Tuesday

Spotlight: NAFTA parties to extend trade talks into Q1 2018 with "significant conceptual gaps"

"We must understand that we all have limits", Guajardo said.

Talks are expected to resume in Mexico Nov. 17, but are not expected to be completed until sometime next year, which means they would bump into the Mexican presidential campaign.

Mexico's Economy Minister Ildefonso Guajardo said it was clear from the beginning that the talks would be tough and "we still have a lot of work to do". Canada's government dismissed the USA dairy proposal, while the Dairy Farmers of Canada called it "outrageous".

The Congressional Research Service says in a report issued last week that there is no clear path for Trump to reduce the US trade deficit with Mexico, one of his major complaints and an overarching priority for revamping a pact he has repeatedly threatened to tear up.

So far, the previous rounds of negotiations produced little progress on the issues of greatest concern to the automotive industry, and this slow pace of resolving issues on the table calls into question the prospect of wrapping up negotiations by the end of the calendar year, as predicted by USA officials.

"As hard has this been, we have seen no indication that our partners are willing to make any changes that will result in a rebalancing and a reduction in these huge trade deficits".

"But the president has been clear that if we are going to have an agreement going forward it must be fair to American businesses and workers that employ our people at home".

Читайте также: Dissecting the Insider Trading Patterns of The Walt Disney Company (DIS)

"The United States shares strong economic ties with Mexico and Canada".

The government has frequently reminded the USA that 35 states and nine million American jobs depend on trade with Canada.

"Today is the fourth of seven rounds of negotiations on the North American Free Trade Agreement". The Trump administration is pushing to increase the percentage of RVC to 85%.

A senior Canadian official, speaking on condition of anonymity because of the sensitivity of the talks, said the report is an affirmation of everything the government has done to lobby Congress on the merits of the deal and its open trade flows between the two countries.

These included requiring USA -made content in autos and auto parts that cross the Mexican and Canadian borders duty-free as well as weakening or undoing dispute settlement provisions. It has touted the tightly intertwined supply chains across the USA auto sector.

"Either trading partners reject them and the talks break down, or Congress rejects them and NAFTA 2.0 doesn't happen", Miller said.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2017 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Latest News