Mexico says ‘very close’ on NAFTA issues with the U.S.

WASHINGTON (Reuters) – Mexico’s Economy Minister Ildefonso Guajardo said the country was getting close to overcoming sticking points with the United States over the renegotiation of the North American Free Trade Agreement (NAFTA).

Asked as he arrived for Friday’s talks in Washington if he could finish the U.S.-Mexico issues on Friday, Guajardo said “I don’t think today but we are very close.”

The bilateral issues the two countries are hammering out include what percentage of auto industry components need to be made in North America to avoid tariffs, and how many cars and trucks need to be made in factories paying higher wages.

The U.S.-Mexico NAFTA talks resumed three weeks ago, without Canada, after negotiations involving all three members of one of the world’s largest trade blocs stalled in June.

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