Exclusive: U.S., Mexico reach NAFTA deal; talks with Canada to start immediately

Reuters  |  WASHINGTON 

By Roberta and Jeff Mason

WASHINGTON (Reuters) - The and reached a deal on Monday to replace the North American Free Trade Agreement (NAFTA) and talks with were expected to begin immediately in the hopes of reaching a final agreement by Friday, a senior U.S. trade said.

"We are now inviting the Canadians in as well and hope that we can reach a fair and successful conclusion with them as well," the told in an interview.

"There are still issues with but I think they could be resolved very quickly," the said.

The U.S.-deal would require 75 percent of auto content to be made in the and Mexico, up from the current level of 62.5 percent, and would require 40 percent to 45 percent of auto content to be made by workers earning at least $16 per hour, a said.

(Reporting by Roberta and Jeff Mason; Editing by Chizu Nomiyama)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, August 27 2018. 20:36 IST