Trade deal possible with Canada, minus Mexico

Trump: Trade deal possible with Canada, minus Mexico

"If the agreement dies overnight, this is going to have an impact on the daily lives of a lot of people, because all of a sudden there's going to be a scarcity of nearly everything that we consume in Mexico-especially on foodstuffs", says the former office head for S&P's Global Ratings in Mexico City. "Withdrawing from the agreement also risks a prolonged legal fight over whether the president can exit from the agreement without congressional consent".

The rules of origin demands are among several conditions that the U.S. Chamber of Commerce has labeled "poison pill proposals" that threaten to torpedo the talks.

Trade experts say the NAFTA talks are likely to stall in the face of aggressive US attempts to sharply increase content requirements for autos and auto parts. He does not expect the issue to be settled by the end of the year. Mexico strongly opposes such a move, which would damage its own vehicle industry. Scheduled talks in this session have been extended by two days to Tuesday.

Economy Secretary Ildefonso Guajardo is the man in charge of Mexico's NAFTA team, and he said this week that Mexico's economy has advanced to a point where it can live without the trilateral trade accord. Negotiators start the fourth of seven planned rounds of talks near Washington on Wednesday.

The updated provisions on competition will allow for more "procedural fairness" in the enforcement of competition law, the statement said.

Rep. Richard Neal of MA, the ranking Democrat on the committee, said he hopes NAFTA will expand Canadian market access for US cultural industries and "will be an opportunity to update intellectual property rules".

The Chamber and the trade group for Mexico's auto industry already have come out against an anticipated proposal to raise USA -specific content.




An auto-parts industry executive warned Wednesday that tightening the rules of origin for cars will add complexity and costs.

Trudeau later said he was optimistic that an agreement would be reached.

Americans", she said, and acknowledged that changes to the deal would "of course be opposed by entrenched Washington lobbyists and trade associations.

However, a study released on Thursday by the Motor Equipment Manufacturers Association, which represents US auto parts makers, showed the higher content requirements would lead to the loss of up to 24,000 U.S.jobs, as some companies would forego NAFTA's tariff-free benefits and ship in more components from other countries.

Alfredo Coutino, Latin America director at Moody's Analytics, wrote in a report that the probability of a breakup of the 1994 trade agreement has increased. -Canada deal that would leave Mexico out entirely.

Phil Levy, senior fellow at the Chicago Council on Global Affairs, pegs the chance of NAFTA's survival at less than 50 percent. "Are they going to be patient and work through these things?"

On Friday, Ohio Senator Sherrod Brown offered his support, saying it was "about time" USA trade negotiators "took the pen away from corporate lobbyists and started writing trade policy that puts American workers first".

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