The fourth round of negotiations for the North American Free Trade Agreement, or NAFTA, ended on Oct. 17 with U.S., Mexican and Canadian negotiators deciding to prolong the talks through next March, abandoning their goal of reaching an agreement by year-end. Will negotiators be able to strike a deal amenable to all three countries? Will Trump administration demands, blasted as “poison pill” proposals by the head of the U.S. Chamber of Commerce, doom the talks? How will next year’s U.S. midterm elections and Mexico’s presidential election affect the renegotiations? If NAFTA disappears, what would be the consequences for North America’s businesses and economies?...
Larry B. Pascal, partner and chair of the Americas Practice Group at Haynes and Boone in Dallas: “The culmination of the fourth round of the NAFTA renegotiation talks and the announcement of the extension of the talks to 2018 highlight several realities. The parties agree that modernizing the agreement is necessary, particularly in areas either not addressed or only lightly touched upon in the current version. Moreover, there appears to be progress in several technical areas. However, the Trump administration has adopted for strong negotiating positions in a variety of areas that jeopardize the success of the talks...
Excerpted from Latin America Advisor. To read the full article, click here.
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