“U.S. President Donald Trump’s administration is pushing for a preliminary NAFTA deal to be announced at a summit in Peru next week and will host cabinet ministers in Washington to attempt a breakthrough”, according to Reuters.
The VIII Summit of the Americas will take place in Lima on the 13th and 14th and President Donald Trump confirmed that he will be attending. This is the first time he travels to Latin America since his taking over the presidency.
“The White House wants leaders from Mexico and Canada to join in unveiling broad outlines of an updated pact”, at the summit, wrote Reuters, citing a report from Bloomberg.
Ildefonso Guajardo, Mexico’s Economy minister will travel to Washington tomorrow for meetings with U.S. Trade representative Robert Lighthizer. The Bloomberg report said that the meetings could include Jared Kushner and Mexican Foreign Minister Luis Videgaray.Also, Canadian Foreign Minister Chrystia Freeland will arrive in Washington for her own meetings with Lighthizer.
“The Mexican elections are approaching and you’re going to get to a certain point, just like you do in the American elections, where it becomes difficult to do meaningful policy changes. So I think whether it’s two weeks or thirty days, it’s got to be soon.”, said White House trade adviser Peter Navarro regarding if it is realistic to wrap up NAFTA in two weeks or not.
The NAFTA deal refers to the “North American Free Trade Agreement", signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. It came into force on January 1, 1994.