U.S.'s Mnuchin: 'Significant' issues remain over NAFTA
Reuters
Published May 21, 2018 10:42AM ET
U.S.'s Mnuchin: 'Significant' issues remain over NAFTA
WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Monday said major issues remained in talks between the United States, Mexico and Canada to renegotiate the North American Free Trade Agreement(NAFTA).
"There are still some very significant, open issues," Mnuchin said in an interview on CNBC.
"We'll see where we get over the next few weeks," he said, adding that he thinks there is still a desire among the three countries to reach an agreement.
"We're still trying to get a new deal done. That is a priority for the president," Mnuchin told CNBC.
He added that Trump administration remained focused on crafting a new NAFTA deal that would require congressional approval, but that Trump could consider a possible so-called "skinny deal" that would not.
His comments come as talks to rework the 24-year-old trade accord have intensified in recent weeks.
Mnuchin has said that Trump is not focused on a specific deadline, but there are pressures given Mexico's presidential election in July as well as congressional deadlines and U.S. midterm elections in November.
Mexico has said that the remaining issues are not complex. Last week, U.S. Trade Representative Robert Lighthizer said the countries were nowhere near a deal.
U.S. House of Representatives Speaker Paul Ryan has said that the Republican-controlled Congress would need to be notified of a new deal by last Thursday to give lawmakers a chance to approve it before a newly-elected Congress takes over in January.
However, White House economic adviser Larry Kudlow said there was still time to forge an agreement. "I don't think the congressional timetable is quite as strict" as Ryan had indicated, he told CNBC.
"It's not dead. It's still cooking," he said.
Get The News You Want
Written By: Reuters
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.