Federal Spotlight: U.S. Reaches Tentative Trade Deal with Mexico
August 30, 2018
President Trump declared on Monday the United States and Mexico have come to a preliminary agreement on a trade pact. The announcement comes following talks that have taken place for more than a year in regards to renegotiating NAFTA. The deal would initially be for 16 years, with an option to re-examine issues in six years, and then extend the accord for another 16 years. Canada is not included in this arrangement, but the development between the U.S. and Mexico has paved the way for Canada to rejoin the discussions on Wednesday.
The Trump administration plans to inform Congress of its intent to sign a new deal tomorrow, which is required before Congress votes on a new trade pact. There is a limited timetable to achieve a trilateral agreement due to midterm elections in November and a new Mexican president taking office in December. Multiple GOP Congressional leaders, Mexico and Canada have also insisted any final deal reached must include the Canadians. There are a host of other intricate factors that could potentially hinder a complete resolution as well.
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