Mexico makes a new offer for an agreement

25 May 2018 10:16 AM

Enrique Pena, the Mexican president, expressed his optimism about the NAFTA talks and reached an agreement that benefits the three countries as a source announced that Mexico had made a new offer to reach an agreement.

The Mexican president said he had spoken to his Canadian counterpart Justin Trudeau about the reworking of the 24-year agreement that supports the Mexican economy.

Differences over how to reformulate the auto industry have slowed progress in retooling the NAFTA, with Mexico showing some flexibility but refusing to fully meet US demands.

The United States has said it will examine whether imports of cars and trucks will hurt the American auto industry, a move that could lead to the imposition of new tariffs on exports to the second largest car market in the world.

Mexico made a new offer on autos showing some flexibility following the announcement by the United States of the inquiry, and it was not clear whether the offer covered other areas.

Trump had ordered renegotiation of the NAFTA to meet electoral promises to bring in more jobs, and the nine-month long talks have now stalled over differences over auto production.

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