U.S., Mexico reach deal over NAFTA

August 27, 2018 09:43 pm | Updated 09:43 pm IST - WASHINGTON

The United States and Mexico reached a deal on Monday to replace the North American Free Trade Agreement (NAFTA) and talks with Canada were expected to begin immediately in the hopes of reaching a final pact by Friday, a senior U.S. trade official said.

“We are now inviting the Canadians in as well and hope that we can reach a fair and successful conclusion with them as well,” the official told Reuters. “There are still issues with Canada but I think they could be resolved very quickly,” the official added.

The U.S.-Mexico deal would require 75% of auto content to be made in the U.S. and Mexico, up from the current level of 62.5%, and would require 40% to 45% of auto content to be made by workers earning at least $16 per hour, a second official said.

Top News Today


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.