Canada, Mexico urge quick NAFTA talks to end uncertainty

07/20/2017 Reuters

NAFTA_logoWASHINGTON/OTTAWA (Reuters) – Top Canadian and Mexican diplomats expressed optimism on Thursday that a NAFTA deal could be reached early next year and cautioned that widespread uncertainty over the future of the three-way trade agreement had slowed business investment.

Mexican sources say the plan is to hold seven rounds of talks at three-week intervals, a schedule that trade experts warned was aggressive and not easily attainable.

Mexico’s ambassador to the United States, Geronimo Gutierrez, said his country wanted to get the negotiations over before a presidential election campaign ramps up next year.

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U.S. announces start of NAFTA talks in Washington on Aug. 16

07/19/2017 Reuters

NAFTA_logoWASHINGTON (Reuters) – The first round of talks between the United State, Mexico and Canada on revamping the North American Free Trade Agreement will take place in Washington from Aug. 16-20, U.S. Trade Representative Robert Lighthizer said on Wednesday.

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Canada, Mexico to discuss how to handle NAFTA talks: sources

07/18/2017 Reuters

NAFTA_logoOTTAWA (Reuters) – Canadian and Mexican officials will meet on Wednesday to discuss how to handle negotiations on NAFTA, two well-placed sources said on Tuesday, as a top Canadian diplomat hinted at a potential clash with Washington.

The working-level talks are scheduled to take place in Ottawa, said the sources, who asked to remain anonymous given the sensitivity of the situation.

“The two sides will be looking for areas where they can work together,” said one of the sources.

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Mexico welcomes U.S. NAFTA objectives, eyes stronger North America

July 17, 2017 Reuters

NAFTA_logoMEXICO CITY (Reuters) – Mexico’s government on Monday said it would work to strengthen the North American economy after the United States published its objectives for the renegotiation of the NAFTA trade deal, which one Mexican official described as “not as bad” as feared.

In a statement, the Mexican economy ministry said it expected talks between the United States, Mexico and Canada on renegotiating the North American Free Trade Agreement (NAFTA) to be able to get under way from Aug. 16.

For now, Mexico would continue with domestic consultations on the revamp of the accord until early August, it added.

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U.S. outlines NAFTA objectives, includes currency provision

July 17, 2017 Reuters

NAFTA_logoWASHINGTON (Reuters) – The United States on Monday outlined a tough negotiating strategy for revising the 1994 North American Free Trade Agreement and for the first time in a U.S. trade deal said it would seek to deter currency manipulation by trading partners.

In a much-anticipated document sent to lawmakers ahead of talks expected next month, U.S. Trade Representative Robert Lighthizer said the Trump administration aimed to reduce the U.S. trade deficit by improving access for U.S. goods exported to Canada and Mexico, the two countries in NAFTA besides the United States.

The document asserts that no country should manipulate currency exchange to gain an unfair competitive advantage.

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Mexican oil regulator approves force majeure for Renaissance field

07/13/2017 Reuters

oil wellMEXICO CITY, July 13 (Reuters) – Mexico’s oil regulator approved on Thursday a force majeure request from Canada’s Renaissance Oil Corp that will allow the firm to suspend operations at its onshore Ponton area while a dispute over environmental damages at the site plays out.

Renaissance has claimed that environmental damages that pre-date its operations at Ponton have impeded its development plans.

Renaissance won development rights for the Ponton block at auction last year.

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Mexico industry eyes NAFTA changes to find common ground with Trump

07/14/2017 Reuters

NAFTA_logoMEXICO CITY (Reuters) – Mexican industry is exploring revising trade rules to ensure U.S. workers benefit from a renegotiated North American Free Trade Agreement (NAFTA) to address head-on U.S. President Donald Trump’s biggest beef with the treaty.

With talks due to start next month between the United States, Mexico and Canada, Mexican officials have stressed the need to craft a new deal that would strengthen the region against competitors, particularly in Asia.

Trump has threatened to ditch NAFTA if he cannot rework it to the benefit of the United States, arguing it has fueled a trade deficit with Mexico and cost thousands of U.S. jobs.

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