Eli Ridder | The Avro Post
The next formal round of North American Free Trade Agreement talks have been placed on hold during high-level talks between the three countries involved in the renegotiation, a move analysts say could mean an agreement is coming soon.
Canadian Prime Minister Justin Trudeau said on Thursday morning that there is a “big possibility” for a deal to occur, amid constant anti-NAFTA rhetoric from the president of the United States along with pressure to secure the key trade deal.
The U.S., Canada and Mexico have been working since last year on revamping the free trade agreement in an effort launched by U.S. President Donald Trump.
“The NAFTA countries have been negotiating continuously on ministerial and official levels since the last forma negotiating round ended in March,” a spokeswoman for U.S. trade chief Robert Lighthizer said.
Mr. Lighthizer, Canada’s Chrystia Freeland and their Mexican counterpart are set to meet in Washington in the coming days.
Sarah Sanders, the White House press secretary, said on Wednesday that the three countries have made “significant progress” towards a final document.
If an agreement is reached quickly, the U.S. lawmakers would have the six-month consultation period required by law to approve a NAFTA deal before the mid-term elections coming late this year.
More details to follow. Image of NAFTA from Behind the Numbers.