US, Mexico appear close to new trade deal

US, Mexico appear close to new trade deal

Ohio-based trade lawyer Dan Ujczo said the bilateral U.S. -Mexico talks are necessary because the two countries' one-on-one issues are more significant at this point in the year-long negotiations - but he added that leaving Canada on the sidelines has an added effect.

"Crude and rude to be sure".

President-elect Andres Manuel Lopez Obrador's NAFTA representative, Jesus Seade, has asked the Trump administration to address concerns that US -proposed language in the new NAFTA deal would put too many restrictions on how they can treat foreign companies looking to tap the nation's crude, according to the people, who asked not to be named discussing private negotiations.

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.

Earlier this week Trump said about Lopez Obrador: "I think he's going to be terrific".

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

Gross domestic product in Mexico declined 0.2% from the quarter before, the the national statistics agency said Friday, compared with expectations for a 0.1% contraction.

"It's not a negotiating style".

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Although big business may be able to absorb the extra costs, Lewis Goodall, Sky's Political Correspondent, says SMEs will find them "much more onerous".

There are also concerns Canada's two NAFTA partners have gone much deeper into trilateral issues during Ottawa's absence.

Under U.S. rules governing trade deals, President Donald Trump is required to give Congress 90 days notice of its intent to sign a trade agreement. When that would be remains unclear - Canada's foreign minister, Chrystia Freeland, announced Friday that she'll travel to Europe for a series of bilateral meetings August 26-30, raising a question of how soon she'd be able to rejoin any talks. Canadian Prime Minister Justin Trudeau faces domestic political pressure to stand up to Trump.

"Our relationship with Mexico is getting closer by the hour".

That's a 'yes, ' according to President Trump, who tweeted Saturday that "a big trade agreement... could be happening soon".

Some say the White House is also feeling some heat to strike a deal. Any deal that would be signed after Obrador takes office is likely to involve renegotiating certain provisions to reflect the new president's populist mandate.

Mexican Economy Secretary Ildefonso Guajardo cited unspecified "advances" following eight hours of talks Sunday with a team led by US Trade Representative Robert Lighthizer and President Donald Trump's son-in-law and senior White House adviser Jared Kushner.

"The negotiator-in-chief needs to show he can close a trade deal".

The U.S. agreed to keep the 2.5% tariff now applied under World Trade Organisation rules if the cars are made at factories that already exist, according to two people familiar with the plans, who asked not to be named discussing private negotiations.

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