© Reuters. Canadian Foreign Minister Chrystia Freeland speaks with reporters after meeting with U.S. Trade Representative Robert Lighthizer to discus NAFTA autos negotiations in WashingtonWASHINGTON (Reuters) – Negotiators trying to hammer out a quick deal to update NAFTA are consulting stakeholders in the auto industry, a top Canadian official said on Friday as the three nations spar over content rules for vehicles.
Canadian Foreign Minister Chrystia Freeland made her remarks ahead of a fourth straight day of top-level talks to modernize the North American Free Trade Agreement, which underpins $1.2 trillion in annual regional trade.
The question of how much NAFTA-produced content a vehicle should contain to qualify for duty free status is proving to be one of the hardest issues to solve.
“In addition to the focus being on our meetings with each other, we are all focusing on talking to our stakeholders in the automotive sector,” said Freeland.
Officials are under heavy time pressure, since the Trump administration has threatened to impose sanctions on Canadian and Mexican steel and aluminum on May 1 if it deems that not enough progress has been made on NAFTA.
Mexican Economy Minister Ildefonso Guajardo, speaking a few minutes before Freeland, said imposing the tariffs would not be in the region’s best interests.
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Source: Investing.com
