Ongoing re-negotiations between the United States, Mexico and Canada over the future of the North American Free Trade Agreement are likely to result in a deal, commerce secretary Wilbur Ross told CNBC Wednesday.
“There’s a good chance” of a successful outcome, Ross stated.
The secretary’s comments came as another round of negotiations between delegates from all countries opened in Montreal Tuesday. Past negotiations have led to significant acrimony from Mexico and Canada to the U.S.
“We have seen proposals that would turn back the clock on 23 years predictability, openness and collaboration,” Canadian foreign minister Chrystia Freeland said in October.
President Donald Trump campaigned on withdrawing from the trade agreement between the three countries but opted to try and renegotiate the deal before doing so. “NAFTA is moving along pretty well. I happen to be of the opinion that if it doesn’t work out, we’ll terminate it,” the president said in a recent Oval Office appearance.
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