NAFTA talks fail to resolve differences
23 November, 2017, 12:00 am
MEXICO CITY – The United States, Mexico and Canada were wrapping up a fifth round of talks to update NAFTA on Tuesday with major differences yet to be resolved, casting doubt on whether a deal could be reached by the end of March 2018 as planned.
The 1994 North American Free Trade Agreement underpins much of the more than $US1 trillion ($F2t) in annual trilateral trade, and Washington’s repeated threats to walk away from the pact unless it is reworked in the United States’ favor have spooked markets.
Canada and Mexico object to a series of contentious demands the United States unveiled during the fourth round last month and the three nations made little progress in Mexico City.
“Significant differences remain on some key areas … these are proposals we simply cannot agree to,” Canadian Foreign Minister Chrystia Freeland told reporters in Ottawa.
Tuesday is the seventh day negotiators have met during this Mexico round, with only two planned rounds of talks left.