U.S., Mexico, and Canada finish first round of NAFTA renegotiations

The Trump administration wrapped up the first round of NAFTA renegotiations with Canada and Mexico on Sunday. Although the initial trade deal took years to negotiation, the three countries’ trade representatives said in a joint statement that they would press forward with talks at a rapid pace, with the next round running from Sept. 1 to Sept. 5. The three countries are aiming to reach a deal on a full modernization of the 23-year-old North American Free Trade Agreement by early 2018. President Trump has criticized the trade pact as unfair to the U.S., threatening to scrap it without major changes to reduce U.S. trade deficits and reverse what he said had been losses of thousands of U.S. jobs to Mexico, where companies pay lower wages.

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