Canada-U.S. Soon Going to Make a NAFTA Trade Deal, May Be on Friday

Last updated on September 5th, 2018

High-ranking NAFTA negotiators from Canada and the United States concluded a third day of multilateral talks on August 30. The involved parties agreed to meet the next day to fix final disputes before a deadline. Meanwhile, the Mexican counterparts are on standby to return to negotiations.

Notwithstanding the prevailing disputative issues, the progressively constructive tone, opposite to Donald Trump’s criticism of Canada, is raising hopes for the year-long discussion to mend the North American Free Trade Agreement (NAFTA).

“Canada’s going to make a deal at some point. It may be by Friday or it may be within a period of time,” said U.S. President Donald Trump. “I think we’re close to a deal.”

However, the negotiations took a crucial turn recently, after the U.S. and Mexico hailed a two-party deal on Monday. The deal established auto content rules and set forth Canada to rejoin the talks. The whole idea is to renew the 1994 accord that bolsters annual trade of over $1 trillion.

According to the process officials, the multilateral talks were already taking place at the technical level, and Mexican Economy Minister Ildefonso Guajardo had to soon retort with U.S. Trade Representative Robert Lighthizer and Canadian Foreign Minister Chrystia Freeland.

“There was no deal yet,” said Freeland, who had a short dicussion with reporters after Thursday’s talks. “I had a brief conversation with Ambassador Lighthizer and his team. I had a couple of things to say and we’ll reconvene in the morning.” Previously, Freeland said she had a “long, intensive conversation” with Lighthizer.

“We covered a lot of ground,” she informed. “The atmosphere remains constructive. There’s a lot of goodwill.”

The commercial enterprise markets in U.S., Canada and Mexico are on the surge this week, anticipating the forthcoming NAFTA deal.

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