Fifth round of NAFTA renegotiation talks begin in Mexico City

Source: Xinhua| 2017-11-18 15:57:41|Editor: pengying
Video PlayerClose

MEXICO CITY, Nov. 17 (Xinhua) -- The fifth round of talks to update the North American Free Trade Agreement (NAFTA) began in Mexico City on Friday, with observers expecting Canada and Mexico to analyze in-depth proposals laid out by the United States.

At the end of the fourth round, which ended on Oct. 17 in Washington, U.S. officials laid out proposals on controversial topics, such as increasing rules of origin for the automotive sector and including a clause that would see NAFTA expire and need to be renegotiated every five years.

Concerning this last point, Canadian and Mexican negotiators indicated their support for revisions of the agreement every five years, but not for its "sudden death" as put forward by Washington.

The fifth round of talks, taking place until Nov. 21, sees the presence of around 30 technical groups to discuss specific issues.

However, unlike the four other rounds, the chief negotiators of each side, Chrystia Freeland of Canada, Robert Lighthizer of the United States and Ildefonso Guajardo of Mexico, would stay away from the new round of talks so as not to distract the work of the technical groups.

The Citibanamex financial group issued a report that said the fifth round of talks should seek to move forward at a faster pace, to calm down financial markets.

"Equally, it is hoped Mexico will propose certain creative alternatives concerning the concerns of the United States, with the objective of advancing in the negotiations," Citibanamex added.

NAFTA is being renegotiated at the demand of U.S. President Donald Trump, who has stated the agreement has harmed his country and has threatened to withdraw from it.

At the end of the fourth round in Washington, all sides agreed to prolong talks into the first quarter of 2018, with more time needed to reach an agreement.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001367623451