Reprinted from The New York Times by Reuters on May 14, 2018.
US Commerce Secretary Wilbur Ross said on Monday that none of the contentious issues in a new NAFTA trade deal appear to have been resolved, diminishing chances of meeting a Thursday deadline to notify US lawmakers of an agreement.
If the notification is not sent by May 17, US House Speaker Paul Ryan has said that the Republican-controlled Congress likely would not have enough time to approve an update to the North American Free Trade Agreement before a newly elected Congress takes over in January.
Even under the negotiating law known as ‘fast track,’ trade deals require lengthy notification periods before they can be signed by the president and considered by lawmakers. Congress has fewer legislative days this year due to mid-term elections in November. …