|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

Talks on Revising NAFTA Extended into 2018

WASHINGTON – Representatives of the United States, Mexico and Canada announced on Tuesday that negotiations on revising the 1994 North American Free Trade Agreement will continue into next year in the face of “significant conceptual gaps among the parties.”

US President Donald Trump initially set a goal of completing the talks this year, but the just-completed fourth round of discussions exposed substantial differences among the three governments on key issues.

“New proposals have created challenges and ministers discussed the significant conceptual gaps among the parties. Ministers have called upon all negotiators to explore creative ways to bridge these gaps. To that end, the parties plan on having a longer inter-sessional period before the next negotiating round to assess all proposals,” US Trade Representative Robert Lightizer told reporters, reading from a joint statement.

The fifth round, to be held in Mexico City, has been postponed until Nov. 17-21.

Lightizer was joined in front of reporters by the leaders of the other two delegations, Mexican Economy Secretary Ildefonso Guajardo and Canadian Foreign Minister Chrystia Freeland.

Trump, long a critic of NAFTA, has repeatedly threatened to scrap the accord altogether if Canada and Mexico don’t agree to the changes he wants.

Even before the fourth round began last week, prospects for success seemed to be fading as Washington demanded controversial amendments, such as the addition to NAFTA of a “sunset clause” that would require the treaty to be reaffirmed by all three signatories every five years in order to remain in effect.

Lightizer complained Tuesday about the unwillingness of his counterparts to accede to US proposals.

“NAFTA has resulted in a huge trade deficit for the United States and has cost us tens of thousands of manufacturing jobs. The agreement has become very lopsided and needs to be rebalanced. We of course have a $500 billion trade deficit. So for us, trade deficits do matter. And we intend to reduce them,” he said.

“Frankly, I am surprised and disappointed by the resistance to change from our negotiating partners,” Lightizer said.

Freeland accused Washington of taking a “winner-takes-all” approach to the negotiations and described the latest US demands as “troubling.”

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved