Trudeau positive on reaching new NAFTA deal with US, Mexico

A New NAFTA Deal Doesn't Seem Close, Despite Deadline

A New NAFTA Deal Doesn't Seem Close, Despite Deadline

With attention focused on the contentious issues of cars, Trudeau said that Mexico had made proposals that "will go a long way towards reducing the trade deficit the US has with Mexico and indeed even bringing back some auto jobs from Mexico to the United States". Canadian Foreign Affairs Minister Chrystia Freeland's spokesman called the deadline a US issue.

U.S. Trade Representative Robert Lighthizer told lawmakers in a meeting on Wednesday that he didn't think a deal could be completed by then or in the immediate term, according to two Democratic representatives who attended the meeting.

Speaking at an event organised by the Economic Club of New York, Trudeau on Thursday said the three countries are close to strike a renegotiated NAFTA and there is "a good deal on the table" right now, Xinhua news agency reported.

Kind said Lighthizer was "hopeful" that he could rebalance the trade agreement to ensure bipartisan support. "We of course will continue to engage in negotiations, and I look forward to working with my counterparts to secure the best possible deal for American farmers, ranchers, workers, and businesses". Ardently opposed to this, Canada and Mexico have offered an olive branch in the form of a mooted provision to review the agreement every five years with a view to updating it where necessary.

Some fear delay will add political unpredictability, since numerous politicians now involved will no longer be in politics next year: Mexico will have a new administration, the US will have a new Congress after midterm elections, and several senior American lawmakers are retiring. Mexico's presidential election will be held in July, and the expected victor could take a harder stance against President Donald Trump and renegotiating the trade deal.

Canada's case lay on a strand of seemingly linear logic.

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Advertisment Canadian officials in Ottawa say no deal on a revised North American Free Trade Agreement (NAFTA) will be reached this week in time to meet a deadline imposed by the US government.

Notwithstanding this, major sticking points remain - among the most prominent of which is the U.S. proposal for a five-year sunset clause whereby the renegotiated agreement would automatically terminate unless all three countries explicitly agree to renew it.

"However, I would not rule out at any point, if the participants show the willingness, that we can settle this negotiation at any moment from the close of May onwards, or in June", the minister told Mexican radio.

Trudeau admitted to being unsure whether a deal would take days, weeks, or be put off indefinitely.

Lori Wallach, director of Public Citizen's Global Trade Watch and a supporter of some of the Trump administration's Nafta demands such as a five-year sunset clause, pushed back against Ryan's deadline.

Mexico's economy minister Ildefonso Guajardo reiterated that Thursday was not a feasible deadline.

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