No NAFTA deal yet, but ‘80% chance’ by May, Mexico says

3 North American countries have been working to renegotiate 1994 free trade agreement

Officials from the United States and Mexico said Monday that NAFTA talks are progressing well, but not enough to announce a deal in principle in the near future.

Mexico’s economy minister said he saw an 80 per cent chance of a new NAFTA deal by the first week of May, and told a TV interviewer that conditions were not right for reaching an agreement this week.

Ildefonso Guajardo said U.S. negotiators were under pressure to strike a new deal by the first week of May to give U.S. Congress members time to discuss a reworked North American Free Trade Agreement, given that the makeup of both chambers will change after U.S. midterm elections in November.

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