Mexico says there is an 80% chance for NAFTA deal by May

April 9, 2018 – The CBC is reporting today that the “Mexico’s economy minister on Monday said he saw an 80 per cent chance of a new NAFTA deal by the first week of May, and said in a TV interview that conditions were not right for reaching an agreement this week.”

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According to the report, Ildefonso Guajardo said “US negotiators were under pressure to strike a new deal by the first week of May in order to give US Congress members time to discuss a reworked North American Free Trade Agreement (NAFTA), given that the makeup of both chambers will change after U.S. midterm elections in November.”

“We’re weeks away,” Mr. Guajardo said. “We should know if we will be able to close this by the first week of May at the latest. … There’s a very high probability, about 80 percent, that we reach an agreement in principle.”

Mr.Guajardo added that the eighth round of talks was now largely irrelevant. “We’re in a type of permanent round,” he said. “The technical groups are working on areas like the automotive rules of origin.”

Talks continue this week in Washington.

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