Time running out for NAFTA deal - Reuters

As reported by Reuters, a deadline of May 17th or 18th has been imposed by the US side of NAFTA negotiations, and while participants are hopeful, there's still a lot of ground to cover.

Key quotes

"Mexico on Thursday indicated time was running out to see whether NAFTA nations could agree a new deal in the short term while Canada struck a upbeat tone, saying top-level talks this week had achieved a great deal.

Major differences remain between the three members of the North American Free Trade Agreement after more than eight months of largely slow-moving negotiations launched at the insistence of Washington, which wants major changes to the 1994 pact.

Mexico’s Economy Minister Ildefonso Guajardo said he expected to learn by the end of Friday whether a new deal was possible in the short term.

Canadian Foreign Minister Chrystia Freeland on Thursday said she was optimistic that top-level talks to update the North American Free Trade Agreement (NAFTA) will clinch a new deal.

“We are definitely getting closer to the final objective,” Freeland told reporters after meetings with lawmakers in Washington amid ongoing talks between top U.S., Canadian and Mexican trade officials to rework the trade deal.

U.S. President Donald Trump regularly threatens to walk away from NAFTA, underscoring uncertainty over the pact. Business executives complain that the lack of clarity is hitting investment."