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There is about a 40 per cent chance of concluding the renegotiation of the North American Free Trade Agreement (NAFTA) before Mexico's presidential election on July 1, Mexican Economy Minister Ildefonso Guajardo said on Friday. «After July 1 and before40% chance of NAFTA deal before July election - Mexico minister
There is about a 40 per cent chance of concluding the renegotiation of the North American Free Trade Agreement (NAFTA) before Mexico's presidential election on July 1, Mexican Economy Minister Ildefonso Guajardo said on Friday. «After July 1 and before the US (mid-term) elections (in November), I would place the probability at another 40 per cent,» he told Mexican television. That meant there was about an 80 per cent chance of being able to conclude the deal before the US mid-terms, he said. For a deal to be reached between Mexico, the United States and Canada on reworking the 24-year-old trade accord, US negotiators would need to show flexibility, he said. Talks, which have ground on over nine months, have been stalled over US demands to impose tougher minimum content requirements for autos built in the NAFTA region. US President Donald Trump wants to change the rules to create more manufacturing jobs in the United States. He blames lower-cost Mexico for the loss of US employment. Guajardo said it was important to agree a new NAFTA deal as quickly as possible, but not at the expense of quality. On Thursday, Mexican President Enrique Pena Nieto expressed optimism about the... Read more