Negotiations over a new North American trade deal have hit a major snag, leaving White House officials increasingly uncertain of their ability to hit their May 18 deadline for securing congressional approval of a new deal before year’s end. Two weeks ago, White House officials were optimistic about prospects for a breakthrough in the talks, a senior administration official said. Missing next week’s deadline could have significant consequences, given the political calendars in both the United States and Mexico. (Other trade experts say that date could slip to later in the month if Congress was willing to delay its Christmas recess for the North American Free Trade Agreement.) But a senior administration official confirmed the account of scant progress and a looming deadline, which was provided by severalindustry observers.

Source: Washington Post May 09, 2018 18:10 UTC