WASHINGTON (Reuters) – US President Donald Trump said on Tuesday progress was being made in slow-moving talks to update the NAFTA trade accord between the United States, Canada and Mexico, but he held out the prospect of striking bilateral pacts if a three-way deal could not be reached.
“We’re trying to equalize it. It’s not easy but we’re getting there,” he told a group of US small business executives. “We’ll see whether or not we can make a reasonable NAFTA deal.”
Renegotiating the North American Free Trade Agreement, which Mr Trump called a “disaster” for the United States, was a goal he had set out during his election campaign.
Negotiations to modernize NAFTA started last August and were initially scheduled to finish by the end of December 2017.
That deadline has been extended several times as Canada and Mexico struggle to accommodate far-reaching US demands for change, such as a sunset clause that would allow one nation to pull out after five years. Canada and Mexico reject the idea.
At a news conference in Mexico City, Mexican foreign minister Luis Videgaray said he expected the next negotiating meeting of ministers to be held in July.
