Mexico says pushing for NAFTA deal as soon as possible

The Mexican peso is jumping on hope for NAFTA progress

A day earlier, President Donald Trump declared in a Twitter message that a resolution was near.

Representatives from Mexico's private sector are in Washington to support Guajardo's team and advise on the rules that their industries would be willing to accept under a new agreement.

For several weeks, Canada's team has been expected to rejoin the talks in Washington, but its anticipated return has been delayed and it remains unclear when it will be invited back.

Kissinger further stated that NAFTA "is not a conventional trade agreement, but the architecture of a new global system".

That demand has been causing friction at the latest U.S. -Mexico talks, according to an industry source familiar with the process, who spoke on condition of anonymity.

Trump has suggested that Canada was sidelined because of what he labeled that nation's high tariffs and trade barriers.

But Guajardo told reporters that Canada's Foreign Minister Chrystia Freeland was ready at any point to proceed with the NAFTA negotiations.

"We need to have engagement with Canada, and the only way it can happen is if we continue through the weekend and into next week", Guajardo told reporters Thursday afternoon.

US and Mexican negotiators were discussing a number of thorny issues, including Washington's insistence on greater USA content in auto production and how to resolve trade disputes within the confines of a new deal.

Trump prompted the NAFTA revamp more than a year ago, complaining the pact has benefited Mexico to the detriment of US workers and manufacturing.

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.

NAFTA took effect 24 years ago. Yet certain US demands that affect all three NAFTA nations remain unresolved and could still be deal breakers. Overhauling the agreement was a key promise of his election campaign. Several businesses and industry organizations in the United States...

One of the White House's goals going into the talks was to significantly increase the proportion of USA parts in the auto sector. "It's no longer what the United States was putting first in any way", Seade said of the sunset clause outside the U.S. Trade Representative's office.

"There's been no indication of flexibility from the U.S. on this issue", a senior Canadian official told AFP on Thursday.

The apparent progress comes as a relief for those who feared the July election of leftist Mexican President Andres Manuel Lopez Obrador, who has been a tough critic of Trump, could ramp up tensions between the United States and Mexico. "Some really good people within both the old and new government, and all working closely together".

NAFTA has become a cornerstone of the Mexican economy since it went into effect January 1, 1994. NAFTA's prospective collapse would be a major blow for Mexico's already sluggish economy.

While Mexican President Enrique Pena Nieto's government is officially in charge of the negotiation, any Nafta deal will need Lopez Obrador's support because it needs to pass a Mexican Senate controlled by his allies, and it will be up to his government to implement it. Lopez Obrador will be sworn in December 1.

Related news:

Hot News

isis-killer-beheading-video-story-top Alonso hopes for Red Bull apology
Aug 27, 2018 - 23:52
He felt I need to take something else on at this stage of my career. "Once I pulled the trigger I felt comfortable with it". The routine is something I felt was, I don't want to say getting the best of me, but it was clearly affecting me".

isis-killer-beheading-video-story-top HBO's True Detective gets season 3 trailer and release date
Aug 27, 2018 - 23:42
True Detective season 3 doesn't yet have a premiere date, but it's set to arrive on HBO on January 2019 . Pizzolatto wrote every single episode, save for episode 4, which he co-wrote with David Milch.

isis-killer-beheading-video-story-top President Trump Announces Renaming, Overhaul to NAFTA in 'Fairer' Deal with Mexico
Aug 27, 2018 - 23:16
After the election, the new president-elect's team met with USA representatives and joined the negotiations as a sign of goodwill. He threatened to impose new taxes on Canadian auto imports to intensify pressure on Ottawa to a agree to deal to Trump's liking.

isis-killer-beheading-video-story-top Flags at White House back at full staff after McCain's death
Aug 27, 2018 - 22:43
President Donald Trump also passed up several chances to comment on McCain, with whom he had frequently traded criticism. Santorum added that Trump "should have... been a little more gracious" in his reaction to McCain's death.

isis-killer-beheading-video-story-top CD Projekt Red releases 50 minute gameplay demo for Cyberpunk 2077
Aug 27, 2018 - 22:00
But mostly it showed off something we haven't seen up until now: the fruits of the developer's long, arduous labors. Cyberpunk 2077 is one of the most anticipated games that comes following the success of The Witcher 3 .

isis-killer-beheading-video-story-top [Teams] Newcastle vs Chelsea: Confirmed Line-Ups From St James' Park
Aug 27, 2018 - 00:37
Newcastle manager Rafael Benitez: "We are talking about one of the top sides". I think it is not so easy to play here against this opponent.

isis-killer-beheading-video-story-top Classmates: Teen driving sports auto in deadly pileup was YouTube star ‘McSkillet’
Aug 26, 2018 - 20:58
Heitmann last posted five months ago, but in a video in December he showed off his expensive McLaren, according to BuzzFeed News . Witnesses also say that they saw the McLaren drove through a fence and through a primary school prior to the highway incident.

isis-killer-beheading-video-story-top John McCain, 'maverick' senator, dead at 81 - Hawaii News Now
Aug 26, 2018 - 18:32
McCain, who died Saturday at age 81, would not be president and would not take Pennsylvania in the 2008 general election. He was a courageous leader who served Arizona and the United States with tremendous pride, dignity and distinction.

isis-killer-beheading-video-story-top South Africa's Land Reform Is Different From Zimbabwe's
Aug 24, 2018 - 11:45
Yet returning to the theme on Thursday, Carlson defended his words from Wednesday's show and mocked the media response. He then said the Fox News team called the State Department to get their view of what was happening in South Africa.

isis-killer-beheading-video-story-top NI businesses told to contact Irish Government in event of no deal
Aug 24, 2018 - 11:16
This could include deciding to follow the EU's medical regulatory framework to ensure a smooth supply. Earlier this month trade minister Liam Fox put the chances at 60-40.

isis-killer-beheading-video-story-top Britain to US, Europe: 'Go further' to counter Russia
Aug 24, 2018 - 08:45
The Donald Trump administration named additional targets of its North Korea sanctions for the third time this month alone. Reuters says US President Donald Trump has said he has no intention of lifting sanctions against Russian Federation.

isis-killer-beheading-video-story-top War of Attrition Against President Trump | Spengler
Aug 24, 2018 - 08:13
On Tuesday, Cohen detailed how he made pre-election hush payments to porn star Stormy Daniels and Playboy model Karen McDougal . Trump expressed sympathy for Manafort's plight, praising his former campaign aide for not talking to prosecutors, as Cohen has.

Everyone's giving out about Madonna's 'disrespectful' Aretha Franklin tribute
Aug 21, 2018 - 18:11
Madge illuminated the fact that Franklin served as an inspiration to so many burgeoning singers. Madonna later announced Camilla Cabello as the victor of Video of the Year award .

isis-killer-beheading-video-story-top Eid al-Adha 2018: When is Bakra Eid? Importance and its significance
Aug 21, 2018 - 18:09
While traditions may vary in different countries, the customs and religious practices on the day remains the same. Scores of pilgrims gathered at the holy mosques of Mecca and Medina, early in the day, for Eid prayers.

isis-killer-beheading-video-story-top Here's how Battlefield 5 looks with Nvidia RTX effects
Aug 21, 2018 - 17:58
NVIDIA has launched the long awaited next generation of graphics cards from the company, the GeForce RTX. The new RTX 2080 Ti , RTX 2080 and RTX 2070 come with in-built real-time ray-tracing technology support.