NAFTA renegotiations continue, fears of 'zombie deal' grow - Reuters
As reported by Reuters, fears are growing of a "zombie NAFTA deal" with the clock beginning to run out and all three NAFTA participants beginning to face widening differences, there are concerns that NAFTA might spin off into a forced agreement where nobody is happy.
Key quotes
"Senior Canadian, U.S. and Mexican officials trying to rescue slow-moving talks to update the NAFTA trade pact met on Monday in a new bid to resolve key issues before regional elections complicate the process."
"Discussions in Washington will center on one particularly contentious area — the U.S. demand for tougher rules of origin governing what percentage of a car needs to be built in the NAFTA region to avoid tariffs."
"Sources close to the talks suggest there is a creeping feeling of pessimism going into the new round of negotiations because of gridlock on critical matters."
"Business executives complain that uncertainty over the future of the 1994 agreement is hurting investment."
Author
Joshua Gibson
FXStreet
Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.
