After weeks of bilateral negotiations, the U.S. is close to striking a “big trade agreement” with Mexico, President Trump said in a tweet on Saturday morning.
“Our relationship with Mexico is getting closer by the hour,” the tweet read. “Some really good people within both the new and old government, and all working closely together….A big Trade Agreement with Mexico could be happening soon!”
For weeks, U.S.-Mexico talks have centered around the automotive industry, but negotiations are part of a broader, year-long effort to revamp the North American Free Trade agreement, of which Canada is also a member.
Canada has not been part of the most recent discussions. Prime Minister Justin Trudeau previously has said one of the sticking points is the inclusion of a five-year sunset clause, which would limit the lifespan of the agreement. Trump’s insistence of including that in the trade pact drew swift rebuke from Canada and Mexico.
According to Reuters, Mexico’s incoming trade negotiator told reporters in Washington that the U.S. had softened its stance on the so-called sunset clause. – READ MORE
[divider][/divider]China And The U.s. Are Set To Resume Trade Talks For The First Time Since June.
A meeting between the two countries, which would be between lower-level officials than earlier talks, would mark a breach in the standoff that has arisen since talks broke down in the spring. U.S. officials have repeatedly said they were open to new talks but insisted that China had walked away rather than offer serious reform.
It still is not clear if China’s delegation will carry with it a reform offer serious enough to stave off the Trump administration’s threat of former tariffs. The U.S. side will be lead by Under Secretary of the Treasury for International Affairs David Malpass.
China is sending a trade envoy to Washington in a renewed effort to end a worsening tariff dispute that has raised worries it will chilal global economic growth.
The delegation led by a deputy commerce minister will visit in late August to discuss “issues of mutual concern,” the Commerce Ministry announced Thursday. It gave no details of a possible agenda. – READ MORE