Trade News

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

U.S. Talks With Mexico on New NAFTA Near Completion, Wilbur Ross Says

(Reade Pickert, Jenny Leonard & Andrew Mayeda – Bloomberg)

Negotiations with Mexico on an update to the North American Free Trade Agreement are going well and may be close to wrapping up, U.S. Commerce Secretary Wilbur Ross said.

“Our immediate, most close-to-completion negotiations are with NAFTA, particularly with Mexico,” Ross said Monday at a conference in Washington, adding that President-elect Andres Manuel Lopez Obrador has “wasted no time” appointing a new trade team. “There’s a pretty good chance that we could be on a pretty rapid track with the Mexican talks.”

The Mexico peso extended gains during Ross’s comments, and was up 0.7 per cent against the dollar at 10:21 a.m. New York time. Click here to read more.