NAFTA May be Nearing Breaking Point

Dan Industry News Release, Trade

naftaForbes speculates that the North American Free Trade Agreement (NAFTA) negotiations may be reaching a breaking point. Little progress has been made in previous talks as the U.S. continues to push a hardline stance that the governments of Canada and Mexico aren’t going to accept.

Last week, a government official from Mexico left a meeting with the Trump Administration with a negative outlook.

In a separate statement, U.S. Trade Representative Robert Lighthizer says he is “concerned about the lack of headway.” Lighthizer says that so far, there is no evidence that Canada or Mexico are “willing to seriously engage on provisions that will lead to a rebalanced agreement.”

Forbes says that Trump’s team appears to be threatening to be ready to cancel NAFTA if serious concessions aren’t made. Mexico and Canada, however, are willing to stall and wait for Congress and U.S. business chambers to increase the pressure on the Trump administration to preserve the current framework.

From the National Association of Farm Broadcasting News Service.