Negotiators push for a NAFTA deal by August
"The window of opportunity for the current administration in Mexico to finish the negotiation is open at this moment," Mexican Economy Minister Ildefonso Guajardo said in Spanish after Thursday's talks, according to El Sol de Mexico. "It closes at the end of August and that is the expectation."
Talks to renegotiate NAFTA have undergone a long and winding road since they began nearly a year ago. Faced with a presidential election in Mexico in July 2018, and midterm elections in the U.S. in November of that year, negotiators sought to expedite the process.
But tough negotiating positions, trade wars and political uncertainty got in the way, and time and time again, they missed their own deadlines. The questions onlookers face now is: Will August be any different?
"AMLO is optimistic that they could reach an agreement this year," Alberto de la Peña, a partner at Haynes and Boone with close business contacts in Mexico, told Supply Chain Dive. "If that happens, I think all those tariffs that have been imposed between the U.S. and Mexico ... will go away."
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