NAFTA: ‘Great deal of negotiation’ still required after Round 1 of talks ends
WASHINGTON — North American countries concluded their first round of negotiations toward a new continental trade agreement Sunday with a statement that suggested major issues needed to be sorted out in the talks ahead.
A joint statement from the three countries couldn’t even agree what to call this process: A ”modernization,” which implies simple changes and is the preferred term of Canada and Mexico, or ”renegotiation,” the word most often used in the U.S.
The statement used both terms. In a joint communique issued as negotiators left Washington on Sunday afternoon, Canada, Mexico and the U.S. declared: ”(We) launched the renegotiation and modernization.
The next round will be held in Mexico City from Sept. 1-5. The countries will in the meantime consult domestic stakeholders and prepare to table more texts that will form the backbone of a new agreement.