The United States and Mexico reached a deal on Monday to replace the North American Free Trade Agreement (NAFTA) and talks with Canada were expected to begin immediately in the hopes of reaching a final agreement by Friday, a senior US trade official said.
“We are now inviting the Canadians in as well and hope that we can reach a fair and successful conclusion with them as well,” the official told Reuters in an interview.
“There are still issues with Canada but I think they could be resolved very quickly,” the official said.
Mexico’s President Enrique Pena Nieto said on Twitter on Monday that he will speak with US President Donald Trump shortly on advances made in the renegotiation of the NAFTA trade deal so that Canada can rejoin trilateral talks.
The US-Mexico deal would require 75 per cent of auto content to be made in the United States and Mexico, up from the current level of 62.5 per cent, and would require 40 per cent to 45 per cent of auto content to be made by workers earning at least $16 per hour, a second official said.
© Thomson Reuters 2018