Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Nafta Trio Meets as Telecom Said to Be Latest Issue Resolved

Published 20/04/2018, 01:17 am
© Bloomberg. From left, Ildefonso Guajardo Villarreal, Chrystia Freeland, and Robert Lighthizer. Photographer: David Kawai/Bloomberg
T
-

(Bloomberg) -- Nafta negotiators are said to have wrapped up another chapter of the deal as the three ministers leading talks meet again in Washington amid a push for a deal in principle within weeks.

U.S. Trade Representative Robert Lighthizer met Canada’s Chrystia Freeland and Mexico’s Ildefonso Guajardo in sessions Thursday in Washington. The sessions, which could continue Friday, come amid the latest technical talks -- what Freeland called an “intensive phase” -- after the ministers’ last session on April 6.

They meet as negotiators are said to have finished work on the telecommunications chapter, according to two people familiar with the discussions, who asked to remain anonymous because the discussions are private. The telecom chapter is the seventh completed out of about 30 under consideration for a final deal.

Freeland, speaking to reporters in Washington on Thursday, said Nafta talks are in period of “intensified engagement” and that so-called rules of origin for the automotive sector will be among the things discussed in her meetings.

“We are very committed to getting a deal, to getting a modernized Nafta,” she said. “We also think we need to take the time it takes to get a good deal, to get details right on complicated issues like rules of origin. So we’ll see how today’s talks go.”

Read more: These Are Five Sticking Points to a New Nafta Deal: QuickTake

Nonetheless, a few key disputes -- such as autos, agriculture and investor-state dispute panels -- will determine whether a deal is possible, said Flavio Volpe, head of an industry group representing Canadian auto parts makers.

“On balance, we may be close enough on all of them to get a deal done,” he said in an interview.

The countries haven’t publicly confirmed an agreement on the telecom chapter. A request for comment from USTR wasn’t immediately returned. Alex Lawrence, a spokesman for Freeland, declined to comment. The U.S. had sought assurances to promote competition in Mexico’s telecom industry, where companies including AT&T Inc (NYSE:T). have been investing and Carlos Slim’s carrier America Movil SAB is the top mobile phone player.

Talks have shifted gears to what Guajardo called a permanent round of negotiations as the Trump administration eyes a stopgap deal. U.S. Vice President Mike Pence and Guajardo have both said a deal could be reached in the coming weeks, though there are signs that there could be a deal that leaves the fine-print to further talks between bureaucrats.

Big gaps remain and the Thursday meeting is unlikely to be a final step. The ministers’ meeting will be closely watched for signs of breakthroughs on some of the key divides, such as the auto sector. But no statement or announcement is expected at this time, said a U.S. administration official speaking on condition of anonymity.

The ministers are scheduled to hold a series of bilateral and trilateral talks Thursday and Friday. Mexico Foreign Minister Luis Videgaray is also said to be planning to come to Washington to try to break a Nafta impasse.

(Updates with telecom chapter details in sixth, final paragraphs.)

© Bloomberg. From left, Ildefonso Guajardo Villarreal, Chrystia Freeland, and Robert Lighthizer. Photographer: David Kawai/Bloomberg

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.