Speaking after meeting with Mexico's Guarjardo and Canada's Freeland

He adds:

  • We've completed just 6 of about 30 chapters
  • More chapters tend to close near ends of talks
  • Automotive rules, procurement important
  • Our time is running very short for NAFTA deal
  • The longer we go on, more political headwinds'
  • Time running out for current Congress to pass NAFTA
  • IF NAFTA can't be trilateral logo bilateral

Canada's Freeland added:

  • completely committed to good NAFTA deal, not any deal
  • beginning to make headway on some of the more challenging issues, do have significant work to go
  • Canada would view any tariffs on steel or aluminum as unacceptable; will take appropriate measures to defend workers and industries if need be

Mexico's economy minister Guarjardo added:

  • As time passes, we should pick up speed on concluding the accord
  • we are close to concluding a number of chapters at the talks, just need a bit more work on them
  • We are working to come a conclusion by April.
  • there's still no US presidential decree on tariffs
  • we should not react to tweets, we should react to concrete policy decisions
  • there has been less advance on chapter 19 in the NAFTA talks
  • when the US negotiator for auto rules of origin returned to the US last week, it was because the US government had started talks with industry

The USDCAD has moved to a new session high after the disappointing news from US Lighthizer.