Mexico’s president-elect: Deal to renegotiate NAFTA could be reached in coming days

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Mexico's President-elect Andres Manuel Lopez Obrador speaks during a press conference at his party's headquarters in Mexico City on July 23, 2018. 

Mexican presidential winner Andres Manuel Lopez Obrador said on Tuesday that he expected there would be an agreement in the renegotiation of the North American Free Trade Agreement in the coming days.

Mexico and the United States agreed last week to step up talks on revamping NAFTA in hopes of reaching a deal on major issues by August. The two countries will hold a bilateral meeting on Thursday, a spokesperson for the United States Trade Representative said Tuesday.

“In every meeting arrangement, the United States is focused on completing the best possible trade deal as quickly as we can,” Emily Davis, the spokesperson, said.

On Thursday, Treasury Secretary Steven Mnuchin told CNBC that he hoped an agreement on NAFTA was coming “very soon.”

“We hope to have an agreement in principle, clearly, very soon. That’s the first priority,” Mnuchin said. “I think we’re making a lot of progress.”

President Donald Trump has said he wanted to wait until after the November midterms in the United States are over to renegotiate the treaty.

CNBC’s
Kayla Tausche
and
Tucker Higgins
contributed to this report.

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