NAFTA UPDATE SEES MAJOR STRIDES

CNC
Added On August 8, 2018

Mexico's economy minister has said the country has put forward a proposal to update the North American Free Trade Agreement (NAFTA) though much remains to be done.
 
PKG:
The U.S.-Mexico talks began in Washington two weeks ago after months of negotiations between the three trade partners.
 
The United States has demanded tougher rules of origin, particularly in the automobile sector, a move both Canada and Mexico have opposed.
 
Mexico has offered to raise the threshold for regional content beyond a proposal of 70 percent. But the U.S. is seeking 75 percent as well as demanding a proportion of vehicles be made in factories paying $16 an hour or more.
 
No deal on autos had yet been reached. And Mexico's economy minister will return to Washington midweek to check on the progress of the talks.
 
The minister on Monday also said Canada could join next week.
 
NAFTA was subjected to renegotiation in August 2017 on the urging of U.S. President Donald Trump, who believes the original trade agreement harms U.S. industry and jobs.