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Speaker Ryan Eases on NAFTA Deadline as 3 Nations Express Optimism

Speaker Ryan Eases on NAFTA Deadline as 3 Nations Express Optimism

Politico, the Washington-based website for political news, noted that House Speaker Paul Ryan said the Trump administration has until May 17 to submit a final NAFTA deal if it wants lawmakers to vote on the revised agreement this year.

This comes as Canada's prime minister said he feels positive about NAFTA talks, and that there's a good deal on the table.

Adam Austen, Press Secretary for Canadian Foreign Affairs Minister Chrystia Freeland, said in a media statement that "the process of congressional ratification is internal to the USA", not a matter for Canada.

A Mexican technical negotiating team is in Washington but there is no date set for the next NAFTA ministerial meeting with the United States and Canada.

He says Trudeau told the US president that the ingredients are there for a deal, but Guajardo also says the American side needs to drop some of its impractical proposals. Mexico's presidential election will be held in July, and the expected victor could take a harder stance against President Donald Trump and renegotiating the trade deal.

Speaker Ryan Eases on NAFTA Deadline as 3 Nations Express Optimism
Speaker Ryan Eases on NAFTA Deadline as 3 Nations Express Optimism

The NAFTA renegotiations are expected to now enter a period of prolonged delay because of the Mexican presidential election in July and the US congressional midterm elections in November.

"Any renegotiated NAFTA that implies losses of existing Mexican jobs is unacceptable", Guajardo said in a tweet.

House Speaker Paul Ryan has said that under timetables imposed by a 2015 law, the three countries need to complete a deal by Thursday if Congress is to pass a new treaty before the November midterm elections.

But here is the thing - While nations such as Canada and the U.S, might be feeling positive about NAFTA, Mexico is a different bag of "frijoles" altogether.

He added: "My guess is there is probably some wiggle room at the ITC for what it takes for their part of the process but not an indefinite amount and that means time is really of the essence".