Mexican and Canadian officials are optimistic of clinching the NAFTA trade deal with the U.S. in the next several months even amid sticking points on car production, an automatic expiration clause and President Donald Trump’s threats to impose tariffs on foreign vehicles.
The nations will try to work an agreement before U.S. mid-term elections in early November. Some of these negotiations will result in meetings between the two nations. While the U.S. has expressed a preference for bilateral deals, Mexico and Canada remain committed to a trilateral agreement.
Many of Trump’s senior economic advisers expect him to impose a 25 percent tariff on about $200 billion in foreign-made automobiles later this year. Canada has termed this as absurd and expressed its confidence that US will follow common sense and refrain from imposing these tariffs.
