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US Said to Make Proposal That Could Kill NAFTA in 5 Years

US Said to Make Proposal That Could Kill NAFTA in 5 Years

"It's possible we won't be able to reach a deal with one or the other, but in the meantime we'll make a deal with one". He was speaking at the White House on Wednesday with visiting Canadian Prime Minister Justin Trudeau, BBC reported.

Vogel said US and Mexican businesses still believed NAFTA talks would produce a good deal and said they would continue to lobby their governments and lawmakers to negotiate a good deal. It's time after all of these years and we'll see what happens.

When asked for comment on The Telegraph report, the spokesman said: "We are confident that we will find a deal that works for Britain and Europe too".

Trade experts say the NAFTA talks are likely to stall in the face of aggressive USA attempts to sharply increase content requirements for autos and auto parts.

The rules of origin demands are among several conditions that the U.S. Chamber of Commerce has labeled "poison pill proposals" that threaten to torpedo the talks.

Under current rules, at least 62% of the parts in a vehicle sold in North America must come from the region to avoid being hit with taxes at the border.

Job losses could be as much as 24,000 if renegotiations lead to requirements for content from North American and specifically the United States, according to the study.

"U.S. negotiators have made conditions so tough that Mexico and Canada could reject them, which would be the flawless excuse for the USA government to announce its departure from NAFTA", Coutino wrote.

"Let me be forceful and direct", Tom Donohue, president of the US Chamber of Commerce, said earlier this week.

The U.S. side sees strengthening the rules of origin for the auto industry as a way to bring back automotive production and jobs from Asia. Mexico could leave NAFTA and have the strength to move on without any serious long-term structural damage to the economy, he said. Scheduled talks in this session have been extended by two days to Tuesday.

The North American Free Trade Agreement, long disparaged by President Donald Trump as bad for the United States, was edging closer toward collapse as negotiators gathered for a fourth round of contentious talks here this week. The U.S. auto parts industry employs about 870,000 workers.

Higgins serves as vice-ranking member on the House Committee on Ways and Means, where he also serves as a member of the subcommittee on trade.

President Donald Trump's trade negotiators entered the latest round of NAFTA talks Wednesday under growing pressure inside their own country to step back from a confrontational stance that's left the USA isolated at the negotiating table.

Meanwhile, a veteran Mexican diplomat has expressed fears about the possibility that NAFTA could be ditched in favour of bilateral agreements, an issue raised by Trump as well.


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