Mexican official says NAFTA talks with the US have 'concluded,' deal announcement coming

A Mexican official told CNBC on Monday that trade talks with the U.S. have wrapped up, adding that an announcement could come later in the day.

Officials were in Washington trying to hammer out the details as the Trump administration pushes to remake the 1994 agreement between the U.S., Mexico and Canada. There was some hope that a new NAFTA could be solidified before Mexico's government turnover on December 1.

The comment from the Mexican official comes just a day after Mexican Economy Minister Ildefonso Guajardo said the two sides were likely "hours" away from reaching a deal. "We've continued making progress," Guajardo told reporters.

President Donald Trump later tweeted that a deal with Mexico was "looking good."

www.cnbc.com...

Obviously we will need to wait for the details of the deal to be able to fully judge it.

However, this is good news.

With the heated tensions between Mexico and the US, it seemed like a trade agreement may not be possible only a few short months ago.

Perhaps this will be the start of the new leadership of Mexico and Trump being able to work toegther to improve both countries.

The article says that Canada would most likely renegotiate after this bilateral deal between Mxico and the US is finished, and that would be good news as well.

a reply to: Grambler

Definitely good stuff.

I wonder how different the new deal will be from the old one?

Makes me wonder what sort of a deal was made.

I wonder if the wall was one of the things he was using to bargain with.

originally posted by: grey580
Makes me wonder what sort of a deal was made.

I wonder if the wall was one of the things he was using to bargain with.

Everyone knows the wall is a pipe dream. It wouldn't affect the people making these decisions. Will this affect our negotiations with the US? Only if the issues are similar. If not....

originally posted by: grey580
Makes me wonder what sort of a deal was made.

I wonder if the wall was one of the things he was using to bargain with.

It very well could have been.

I am interested in seeing the details.

I feel like trump sets out goals that he knows he wont get when it comes to trade negotiations, and then seeks to use that to compromise and come down from his position, thereby getting a net benefit.

So I doubt that this nafta deal will be a staggering better deal than the previous one, but I look for it to be an improvement in some ways, which is good.

a reply to: Grambler
I know that many Sony Tv's and a handful of car brands were being manufactured in Mexico. It also seems to be the origin of Glass Pepsi bottles that use real cane sugar instead of corn syrup.

Why can't Pepsi bottlers in the US make glass pepsi bottles with real cane sugar?? Why is it everytime I get my hopes up, I still see product of Mexico on them??

Hopefully part of the deal is that Pepsi has to start offering glass Pepsi bottles made with real cane sugar produced in the US.

You beat me to it Grambler. I just heard about this... announcement coming up in about a half hour.

Nice to have something important to discuss instead of what tweeted who and where said how...

Last I remember, Mexico's new President wanted to make some serious changes to the Mexican government, including rooting out corruption form the drug cartels. I've been wondering whether or not his policies would compliment Trump's. I figure we'll find out in the official announcement. We really do need a good trade deal with Mexico, one that will help both countries instead of being one-sided and allowing the drug culture to expand south of the border.

I think this also illustrates a new dynamic: this certainly didn't happen overnight. There has likely been talks ongoing for quite some time, but we never heard much about them. In that respect, maybe something did come out of the porn star and her creepy porn lawyer, Manafort, Gates, Cohen, and all the news fluff that keeps getting picked up by the newsfeed and scattered abroad like seeds during planting season: a little privacy so Trump can do what he was hired to do.

I'm really not expecting to hear much about the wall... although that possibility certainly exists.

TheRedneck

a reply to: Grambler

A lot of times in negotiations. You give an incredibly outlandish request.

So that other requests seem reasonable in comparison.

a reply to: Grambler

I understand that NAFTA is an agreement outlining conditions for a trilateral trading bloc between the US, Mexico and Canada. Canada has not been part of these recent discussions. Doesn't this mean that we are missing a huge piece of the "pie" here?

a reply to: Grambler

goo.gl...
Taco bowls for everyone!!!!

One of these days people are going to figure out what's best for their countries.
We as Americans should want an economically sound Mexico. Give them a reason to stay there.

Wonder what the deal contains..

Autonews.com is reporting that the automotive part of the NAFTA deal is all wrapped up and ready to go.

That's a big part of it. The US, Canada, and Mexico are constantly trying to steal auto factories from each other.

a reply to: Grambler

This is what Reuters is reporting:

Exclusive: U.S., Mexico reach NAFTA deal; talks with Canada to start immediately

The U.S.-Mexico deal would require 75 percent of auto content to be made in the United States and Mexico, up from the current level of 62.5 percent, and would require 40 percent to 45 percent of auto content to be made by workers earning at least $16 per hour, a second official said.

a reply to: FamCore

Canada has been sidelined during these talks. It is possibly because they were bringing social issues like gender equity ,indigenous issues ect. to the table that were not welcomed. Canada is also holding out on dairy supply management. So we will see if Canada is going to be left with scraps.

In a nutshell.

What's good for Mexico is bad for Us conversely what's bad for Mexico is good for Us.

Hope for the former not the latter since it should decrease illegal immigration.

a reply to: theantediluvian

If true, this is an excellent way to approach the overall issues: the disparages in trade, the Mexican poverty that is driving illegal immigration, and the loss of American jobs to Mexican plants. By requiring a higher wage in order to trade with the US, companies in Mexico will be forced onto a leveler playing field that allows America to compete. In addition, the plants that do relocate to Mexico will stimulate their local economy and help bring the country out of poverty.

I still want to hear the official announcement, but it sounds like a win-win all around. Now to Canada...

TheRedneck

a reply to: neo96

What's good for Mexico is bad for Us conversely what's bad for Mexico is good for Us.

No.

In any good business deal, both parties gain but neither gains over the other. What's good for Mexico can also be good for the US.

TheRedneck

a reply to: TheRedneck

That's what they said 20 years ago.

www.npr.org...

Here it comes!

TheRedneck

a reply to: Grambler

Looks like Trump has renamed NAFTA as the US Mexico Trade Agreement