The United States and Mexico are approaching an agreement on NAFTA
27 August 2018 01:30 PM
The United States and Mexico will resume talks on NAFTA Monday, as the two countries move closer to removing common trade foes.
The Mexican economy minister told reporters on Sunday that the two sides were likely to reach a common point within hours, but later said work still needed more and negotiations would start again today, Reuters reported.
"They continue to make progress on the negotiations," Edfonso Gugardo said.
Bilateral discussions on NAFTA focused on drafting new rules for the auto industry, the most important aspect the US president has focused on when negotiations on the 24-year-old agreement are being re-established.
For his part, the Foreign Minister of Mexico announced that Canada is likely to return to negotiations once bilateral issues with the United States are resolved.
The NAFTA Convention, which the US president has described as the "catastrophe" of the United States, Canada and Mexico.
Last Saturday, Donald Trump announced that the trade agreement with Mexico was close.
With these developments, the Mexican peso rose against the dollar. By 10:05 am GMT, the Mexican currency rose against its US counterpart by 0.7% to 18.7882 pesos.