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US, Canada Differ on Quick NAFTA Resolution

The Trump administration is hopeful it can reach a deal on a new North American Free Trade Agreement before the July 1 presidential election in Mexico and U.S. midterm congressional elections in November.

“I’d say I’m hopeful — I think we are making progress. I think that all three parties want to move forward. We have a short window, because of elections and things beyond our control,” U.S. Trade Representative Robert Lighthizer told CNBC television Wednesday.

But Canada’s chief negotiator was far less optimistic.

“We have yet to see exactly what the U.S. means by an agreement in principle,” Steve Verheul told reporters Wednesday in Ottawa. There are still “significant gaps,” Verheul said. “We can accomplish quite a bit between now and then, and we’ve made it clear to the U.S. that we will be prepared to negotiate at any time, any place, for as long as they are prepared to negotiate, but so far we haven’t really seen that process get going,” he said.

Officials from the U.S., Canada and Mexico are supposed to meet in the United States next month for the eighth round of talks, although Washington has not announced dates yet.

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