The U.S. and Mexico are close to reaching a bilateral deal to update sections of the North American Free Trade Agreement, according to a source with knowledge of the talks. The final details could be wrapped up on Wednesday, depending on how talks between the two countries’ top negotiators go.
The source stressed that some big points of contention remained outstanding, and that those could still unravel the deal. A potential announcement for Thursday reported by the Wall Street Journal was possible, but remained the optimistic scenario.
The precise details of the deal were not clear, but it was known that the U.S. and Mexico were negotiating the level of U.S.-made components needed for automobiles to be designated as made in America, as well as wage levels for Mexican factory workers, among other issues.