Mexico Says a New Trade Deal With The U.S. Could Be Ready By Late 2017

Accords to update trade relations between Mexico and the United States could be possible toward the end of this year, Mexican Foreign Minister Luis Videgaray said on Thursday, hinting at a quicker timetable than U.S. officials have ventured so far.

Mexico is facing tough negotiations with Washington because U.S. President Donald Trump has threatened to dump the 1994 North American Free Trade Agreement (NAFTA) between the two nations and Canada if he cannot rework it in the United States’ favor.

Speaking to reporters in Washington after meeting Trump administration officials, Videgaray said he expected formal talks on commerce to begin around the middle of 2017 and that “possible deals over trade could be reached towards the end of the year.”

Videgaray noted that Mexican Economy Minister Ildefonso Guajardo was also meeting with U.S. Commerce Secretary Wilbur Ross, who this week said substantive trade talks could begin in the second half of 2017 and might take a year to…