Mexico says NAFTA deal unlikely this week

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Mexico says NAFTA deal unlikely this week

Mexico's top trade negotiator said Tuesday that he doesn't believe an agreement between his country, the US and Canada will be reached by Thursday's informal deadline. A deal on autos is considered crucial for the rest of a NAFTA update to fall into place.

Ross, who is not directly involved in the negotiations, alluded to the idea that talks could still be in progress on June 1, when a USA steel and aluminum tariff exemption for Canada and Mexico expires. Guajardo said the currency was being hurt by uncertainty over NAFTA talks and Mexico's upcoming election.

Ryan, GOP scramble to win support for controversial farm bill The Hill's 12:30 Report CBO: Rescissions would only save B in spending MORE (R-Wis.) had set May 17 as the informal deadline to submit a NAFTA deal if the Trump administration wanted the current Congress to vote on a renegotiated agreement between the U.S., Canada and Mexico.

"It is not easy, we don't think we will have it by Thursday", Guajardo told broadcaster Televisa.

Smith said the administration of President Enrique Pena Nieto had a responsibility to continue negotiating until Mexico's new president, who will be elected on July 1, takes office on December 1.

"You have to continue to negotiate and the moment you reach a good negotiation, close the deal", he added.

The current leading presidential candidate in Mexico, the progressive Andrés Manuel López Obrador, favors staying in NAFTA.

"It could be before the Mexican election on July 1, it could be just after", he said.

That's the view of Mexico's economy minister.

The latest survey comes as U.S., Mexican and Canadian negotiators expressed increasing pessimism that they can come up with a re-write of the 1994 NAFTA accord demanded by President Trump in the coming days. Guajardo said the next government's team would need to be involved in any talks after July 1.

Speaking at the National Press Club on Monday, Ross said he did not believe any of the "big hot topics" were resolved, including rules of origin for autos, labor issues, US demands for a five-year "sunset" provision and major changes to dispute settlement systems.

The United States and Canada are also pushing Mexico to increase wages in its automotive sector.

Neither Guajardo nor Canadian Foreign Affairs Minister Chrystia Freeland had plans to travel to Washington on Wednesday, their representatives said.

Kenneth Smith, the chief Mexican negotiator at the talks, said that for Mexico there were no deadlines in the revamp.

"We could see the elements to arrive at a balanced agreement".

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