Published: Fri, May 18, 2018
Worldwide | By Gretchen Simon

As US deadline passes, Mexico says NAFTA deal still doable

As US deadline passes, Mexico says NAFTA deal still doable

The failure to complete the deal could be interpreted as a political setback for President Trump, who has repeatedly vowed to cancel NAFTA and replace it with something better.

Ryan has said that under American trade law, Thursday was the last day to receive notice of intent to sign a new agreement that could be passed by the current Congress.

Speaking Thursday, Ryan indicated if the U.S., Mexico and Canada could reach an agreement soon, meaning Congress could still take it up this year.

"We still want to see something happen and we're going to continue in those conversations".

Democratic Rep. Rosa DeLauro of CT on Wednesday urged negotiators to continue their talks, saying Ryan's deadline is arbitrary.

"They have failed to reach an agreement, and the divisions are fairly fundamental, so I'm not certain that even if Ryan comes back and says, 'I didn't really mean it, there's wiggle room, ' that it's going to make a difference", Alden said. US negotiations with China are more hard and likely to take more time, he said.

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"The NAFTA countries are nowhere near close to a deal", U.S. Trade Representative Robert Lighthizer said in a statement, pointing to "gaping differences" on a host of issues, including intellectual property, agricultural access, labor and energy.

"To be honest, we are down to a point where there is a good deal on the table", Trudeau told the Economic Club of NY.

"The point is, we can't work a bill unless we have an agreement that's in writing that we can work on, and that hasn't occurred yet", Ryan said. Mexico's presidential election will be held in July, and the expected victor could take a harder stance against President Donald Trump and renegotiating the trade deal. However, the week is quickly coming to an end, and top trade negotiators from Mexico and Canada are not on-site with others this week.

He had initially set a deadline for Thursday, May 17 for a NAFTA deal to be submitted.

US Republicans could lose their majority in November mid-term elections, while Mexico is counting down to a presidential election on July 1 that could bring a leftist free trade skeptic, Andres Manuel Lopez Obrador, to power. His pick for economy minister, Graciela Marquez, has said his administration would be willing to accept a deal struck before the election.

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