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Posts Tagged ‘NAFTA renegotiations’

NAFTA Talks Encroaching on Congressional Deadline

If deal isn't reached by deadline, might have to wait until 2019.

by on May.17, 2018

Republican House leader Paul Ryan noted if NAFTA talks don't produce a new deal soon, it may not get approved until 2019.

The Trump administration’s plans to overhaul the North American Free Trade Agreement may have to wait until next year.

Politico, the Washington-based website for political news, noted that House Speaker Paul Ryan said the Trump administration has until May 17 to submit a final NAFTA deal if it wants lawmakers to vote on the revised agreement this year.

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Negotiators from the U.S., Mexico and Canada have nothing to show for their efforts despite meeting all week in Washington DC to coming up with a deal, knowing that time was running short to get a deal through Congress in this legislative session.  (more…)

New US Content Proposal for NAFTA Gets Tepid Response

Mexico balks at new demands from negotiators.

by on May.01, 2018

Trade representatives from Canada, Mexico and the U.S. continue negotiating a revised NAFTA agreement.

The latest proposals from the U.S. in the ongoing North American Free Trade Agreement talks have been met with tepid curiosity and outright defiance from Mexico’s delegation.

The U.S. proposal, according to Reuters, increases NAFTA’s regional automotive content and would carry a four-year phase-in to meet a higher, 75% regional value threshold. The current level is 62.5% while new labor content rules requiring substantial work at wages of $16 an hour or higher.

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The new deal would require the $16 wage on work comprising 40% of the value of light-duty passenger vehicles and 45% for pickup trucks. Mexico, where salaries average less than $6 per hour at automakers, wasn’t keen on the new idea. (more…)