NAFTA talks in ‘final hours’ Mexican Economy Minister says

NAFTA talks in ‘final hours’ Mexican Economy Minister says

NAFTA talks in ‘final hours’ Mexican Economy Minister says

Foreign Affairs Minister Chrystia Freeland says she's "very encouraged" by signals from Washington that the United States and Mexico are close to figuring out their bilateral issues within the three-country North American Free Trade Agreement.

Reuters reports that disputes about auto rules have pushed talks into next week, but the United States and Mexico are seemingly closer to resolving other issues. "Some really good people within both the new and old government, and all working closely together. a big trade agreement with Mexico could be happening soon!"

One of the biggest issues on the negotiating table deals with vehicle manufacturing jobs, as the Trump administration pushes for a deal that would boost factory employment in the U.S.

Canada has not been part of the most recent discussions.

The "sunset clause" - an automatic cancellation of all agreements after five years - has been a major demand from the USA administration, but Mexico believes it can agree to a renegotiated version of this.

Trump's insistence of including that in the trade pact drew swift rebuke from Canada and Mexico. Guajardo has consistently said that he expects the issue to be one of the final ones to be ironed out, because it requires Canada's participation.

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"The story of these types of things is always defined in the final minute, and I would say that we're practically into the final hours of this negotiation", Guajardo told reporters. Mexican Economy Minister Ildefonso Guajardo led a meeting with more than 120 representatives from the business community, called the "accompanying room", on August 7 in the Mexican capital. A representative of the United States trade representative did not respond to a request for comment. Officials in both the USA and Mexico have said they are keen to reset the fractious tone between the neighbors that has marred relations since Trump took office.

Seade said the issue of auto sector rules is "basically resolved", although some aspects, including time frames, are still being discussed. Mexico, with its relatively low-wage labor force, is a major production site for many USA manufacturers, especially automobile companies. "We'll try to finish as soon as possible".

Since Mexico's July 1 presidential election, the bilateral talks have been complicated by divisions between the incoming and outgoing Mexican administrations over energy policy.

He's spoken of better relations with America's neighbour following the rise of Mexican President-elect Andres Manuel Lopez Obrador (ahn-DRAYS' mahn-WEHL' LOH'-pez OH'-brah-dohr).

Mexican officials are seeking to have a new deal in place by December 1, when President-elect Andres Manuel Lopez Obrador takes office.

Mexico's Economy Minister Ildefonso Guajardo told reporters on Sunday a deal between the USA and Mexico was nearing completion.

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