NAFTA Renegotiation Showing Signs of Progress
The U.S. and Mexico are nearing an agreement on the trade of automobiles as part of the North American Free Trade Agreement renegotiation effort. Politico reports the U.S. and Mexico are in the “final stages” of reaching a deal on the automotive rules of origin section of NAFTA, key to completing the renegotiation.
A team of negotiators is in Washington, D.C. this week to continue the talks. Other issues within the negotiations, including a sunset provision and dispute settlement, along with dairy trade, remain unsettled.
U.S. Trade Representative Robert Lighthizer said last week that finishing the talks with Mexico could put pressure on Canada to reach an agreement. Scrapping Canada’s dairy supply management system, a goal for the U.S. as part of the negotiations, remains “unacceptable,” according to trade officials from Canada.