Mexico Hopes To Conclude NAFTA Talks With US Next Week: Minister

Mexico hopes to conclude NAFTA talks with US next week: minister

Washington, (APP - UrduPoint / Pakistan Point News - 17th Aug, 2018 ) :US and Mexican negotiators are making progress and could resolve remaining issues to revamp the North American Free Trade Agreement by next week, Mexico's Economy Minister Ildefonso Guajardo said Friday.

Once the two nations iron out the pending differences, Canada could then rejoin the discussions, he told reporters following a meeting with US trade officials.

"Hopefully we will be able to close up no later than the middle of the week the remaining issues and probably there will be space to start the trilateral," he said.

Guajardo has been leading a delegation to Washington for four straight weeks to try to conclude a deal to rewrite NAFTA in time to be signed before a new government takes office in Mexico in December.

He said the team would return Tuesday to continue the discussions.

But there remain "a couple of things that have to be settled," including the US demand for a "sunset clause" that would end the trade pact after five years unless it was reauthorized.

"There is no breakthrough until everything is finished." US Trade Representative Robert Lighthizer said Thursday he hoped to get a breakthrough with Mexico in the coming days.

But President Donald Trump on Thursday said he was in "no rush" to conclude a deal and reiterated that "NAFTA has been a disaster for our country."The US, Mexico and Canada began talks to modernize the 24-year-old trade pact a year ago at Trump's insistence but the talks were hung up over US demands.