Tradelines News

Get the latest news and updates on cross-border customs and international trade.

Magna CEO Feeling ‘More Positive’ on NAFTA Negotiations

(Kristine Owram – Bloomberg)

The head of North America’s biggest auto supplier says he’s feeling “a bit more positive” negotiators will clinch a new NAFTA deal after hearing from people in recent discussions.

“They were quite discouraged a couple of months ago but it seems that people are more hopeful that everybody understands how important it is to get this right,” Don Walker, chief executive officer of Magna International Inc., said in an interview Thursday in Toronto.

“If we do something to make ourselves less competitive, it’s going to be a lose-lose-lose.”

Walker said he believes the U.S. wants to use the renegotiated North American Free Trade agreement as a template for future trade deals with other countries and that is adding complexity to the discussions. Click here to read more.

Related: Mexico, US Express Cautious Optimism on NAFTA Deal (VOA)