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Trade Zone – Nafta Undertakers are positive after first round News

Monday, August 21st, 2017 | Economy

The number and breadth of the proposals in the five-day talks reflects the goal of all three countries to reach an "ambitious result", according to a joint statement by US Trade Commissioner Robert Lighthizer, Canadian Foreign Minister Chrystia Freeland and the Mexican Minister for Economic Affairs Ildefonso Guajardo.
After the first round in Washington, the next will take place in Mexico from September 1 to 5, followed by a series of other meetings later this year. All three countries are committed to an "accelerated" negotiation process, the Communication said.
Negotiations on a new set of rules for the world's largest free trade zone will be held at the instigation of US President Donald Trump. The Republican believes that the current pact is detrimental to the Americans and is mainly due to the huge US deficit in trade with Mexico.
The free trade agreement Nafta entered into force in early 1994. The zone covers 25 percent of global economic output.


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