Round 1 of NAFTA talks ends

North American countries on Sunday wrapped up its initial round of talks for the North American Free Trade Agreement (NAFTA) touching three fundamental topics so far.

First were auto parts rule which brought much surprise to the allies of the U.S. as it hinted that it might favor made in America-style content quota, an idea that Canada, Mexico and the auto-industry opposed.

Second were pharmaceuticals, U.S. proposed a 12-year patent style protection for cutting edge Biologics medicines which is higher than those in Canada and Mexico and it would also drive up prices.

Third was labor, the U.S. inside trade recorded that Canada had presented demands on labor rights forcing the U.S to sign all international labor organizations conventions, an idea that has totally been protected by the U.S.

Th three countries couldn’t even decide on what to name the process. Canada and Mexico preferred the term “modernization” which entails minimal changes while U.S. frequently used the term “renegotiation”.

In the joint communique issued by Washington, Canada, Mexico and the U.S declared: “(We) launched the renegotiation and modernization.”

The communique further stated: “While a great deal of effort and negotiation will be required in the coming months, Canada, Mexico and the United Stets are committed to an accelerated and comprehensive negotiation process.”

The second round of negotiation and modernizations will be held in Mexico City from September 1-5, while third will be in Canada by late September.

(DAILY NEWS ROUND UP FOR 08 / 21 / 17)