WASHINGTON (Reuters) – Senior American, Canadian and Mexican officials on Friday, June 23, 2009 – NAFTA, Paula Ryan.
The failure to secure a quick deal underscores uncertainty over the North American Free Trade Agreement, which US President Donald Trump on Friday said "has been a horrible, horrible disaster for this country."
Trump, who blames the 1
After meeting for a barely half an hour on Friday, the top Mexican and Canadian politicians involved in the agreement to clear the agreement.
Canadian Foreign Minister Chrystia Freeland said officials would continue to work in Washington while ministers returned home for consultations.
"We plan to meet again as needed, which I think will be soon. … The negotiation will take as long as it takes to a good deal, "she told reporters after the meeting.
This is a chance to be heard by a speaker.
U.S. Trade Representative Robert Lighthizer has said he wants a deal in place to avoid potential political problems stemming from Mexico's July 1 presidential vote and U.S. midterm congressional elections in November.
In a statement, Lighthizer said the United States was ready to continue working with Mexico and Canada.
Friday's talks were the first involving all the top officials in the NAFTA negotiations – Freeland, Mexican Economy Minister Ildefonso Guajardo and Lighthizer – since the latest round started on Monday.
Mexico has not been agreed to a proposal to boost North American content for cars made in the NAFTA region, one of the main sticking points. Guajardo said his team tried hard during the week to bridge the gap.
"We are not going to sacrifice the quality of an agreement because of pressure of time," he said.
Financial markets are nervous about the damage a withdrawal could be on the highly integrated North American economy. Canada's central bank governor and other policymakers complain that uncertainty over the pact is hitting business investment.
Guajardo, who wishes to reach an agreement on all the main aspects of a modernized NAFTA before sealing a new deal, said there were plenty of other issues outstanding.
Drafting new rules of origin governing what percentage of a car needs to be sourced from the NAFTA region.
It forms a key plank of the Trump administration's aim to boost jobs and investment in the United States.
Officials and industry sources say the three sides have been narrowing their differences on cars.
However, several other major issues are still unresolved, including U.S. Pat. Demands for a sunset clause that would allow NAFTA to expire if it is not renegotiated every five years, and elimination of settlement panels for trade disputes.
Writing by David Ljunggren; additional reporting by David Shephardson of Washington and Daina Beth Solomon of Mexico City; editing by Paul Simao and Jonathan Oatis