It’s Now or NAFTA
The odds are “about 50-50” that NAFTA will be terminated, according to Gerónimo Gutiérrez, Mexico’s ambassador to the United States, following a fifth round of renegotiations among the United States, Mexico, and Canada on the nearly 24-year-old free trade agreement.
“I remain concerned about the lack of headway,” said U.S. Trade Representative Robert Lighthizer in a Nov. 21, 2017 statement. “Thus far, we have seen no evidence that Canada or Mexico are willing to seriously engage on provisions that will lead to a rebalanced agreement. Absent rebalancing, we will not reach a satisfactory result.”
Despite the uncertainty of whether NAFTA can be successfully renegotiated, Gutiérrez told CBS News that over the past year the prospects and efforts toward a new deal have increased.
“In spite of important differences, we’re communicating fluently, we’re engaging, and that’s important,” Gutierrez said. “I’m moderately optimistic we can, in fact, reach an agreement in the next few months.”
President Trump has criticized the deal as unfair, behind multi-billion-dollar trade deficits with the United States. New talks begin in January 2018.