Negotiations over NAFTA are bogging down ahead of a major deadline
Source: The Washington Post
By David J. Lynch and Damian Paletta May 9 at 2:09 PM
Negotiations over a new North American trade deal have hit a major snag, leaving White House officials increasingly uncertain over their ability to hit their May 18 deadline for securing congressional approval of a new deal before year’s end.
The main stumbling block involves a dispute over determining which automobiles are given duty-free treatment under the agreement, according to five industry and U.S. government sources.
After almost nine months of negotiations, the U.S. and its trading partners Canada and Mexico remain far apart on a host of contentious issues, including U.S. demands that the treaty must be renewed every five years.
Two weeks ago, White House officials were optimistic about prospects for a breakthrough in the talks, a senior administration official said. While U.S. officials have not abandoned hope of success, they acknowledge that the odds of quickly reaching a deal that fulfills President Trump’s campaign promise to return lost manufacturing jobs to the United States are growing longer, the official added.
Read more: https://www.washingtonpost.com/business/economy/negotiations-over-nafta-are-bogging-down-ahead-of-a-major-deadline/2018/05/09/fb51cef6-53a0-11e8-abd8-265bd07a9859_story.html
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