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NAFTA may move onto the next steps in the week ahead
The US and Mexico are getting close to resolving the bi-lateral issues that are holding up NAFTA talks, according to a report today from the Wall Street Journal.
The discussions have mostly been centered on autos but dispute resolution issues are also snags.
The WSJ also hinted at how the dispute resolution issues may be resolved:
“An idea to resolve the impasse is for only certain industries to remain
covered by dispute settlement. Negotiators have floated the idea with
different industries, according to three sources from industries closely
tracking the negotiations. Mexico and the U.S. don’t appear to have
reached any agreement on the idea to exempt some industries but not
others.”
Separately, Reuters reports that the US has softened its stance on another key issue — a sunset clause. Trump had tried to include a provision that would force all three countries to ratify the agreement every 5 years. Canada was strictly opposed to it.
Expect these reports to give the Mexican peso and the Canadian dollar a lift at the open.