<html><head><meta http-equiv="Content-Type" content="text/html charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space;" class=""><i class="">Four articles on just-concluded NAFTA round below…</i><div class=""><br class=""></div><div class=""><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><a href="https://www.bloomberg.com/news/articles/2017-11-21/u-s-cites-progress-but-no-breakthroughs-in-latest-nafta-talks" style="color: rgb(149, 79, 114);" class="">https://www.bloomberg.com/news/articles/2017-11-21/u-s-cites-progress-but-no-breakthroughs-in-latest-nafta-talks</a><o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">BLOOMBERG<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><b class=""><span style="font-size: 22pt;" class="">Nafta Round Ends With No Sign of Consensus on Big-Ticket Issues<o:p class=""></o:p></span></b></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">By Josh Wingrove, Eric Martin, and Andrew Mayeda<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">November 21, 2017, 5:19 PM EST Updated on November 21, 2017, 5:31 PM EST<o:p class=""></o:p></div><ul type="disc" style="margin-bottom: 0in; margin-top: 0in;" class=""><li class="MsoNormal" style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">Negotiators fail to finalize any new sections of agreement<o:p class=""></o:p></li><li class="MsoNormal" style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;">Further talks set for Washington in Dec., Montreal in Jan.<o:p class=""></o:p></li></ul><div style="margin: 0in 0in 0.0001pt 0.5in; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">The latest round of Nafta talks wrapped up without major breakthroughs, the latest signal talks have bogged down on controversial proposals from U.S. President Donald Trump’s administration.<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">Negotiators fell short of finishing work on any individual section of the agreement during this round, according to two people familiar with the discussions who spoke on condition of anonymity. A senior U.S. official briefing reporters on Nafta on Tuesday didn’t identify any specific areas or indicate that agreement was reached on any new chapters.<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">While the U.S. has presented the bulk of its proposals, it’d like to see counteroffers and more engagement, including on vehicles, according to the American official.<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">The U.S. has proposed increasing the regional content requirement for autos to qualify for Nafta’s tariff benefits to 85 percent from 62.5 percent and add a rule that 50 percent of the car must be built in the U.S. Mexico and Canada have rejected this demand.<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">The just-concluded negotiation was the first to not include the cabinet figures leading negotiations. Instead, less-senior staff and bureaucrats were tasked largely to plod ahead on more minor areas.<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><span style="font-size: 12pt; font-family: 'Times New Roman', serif; color: rgb(31, 73, 125);" class=""> </span></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">Talks scheduled for next month in Washington will be on a smaller scale than previous rounds. Those will be followed by the official sixth round in Montreal Jan. 23-28.<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">In the latest round, Mexico proposed limiting access to government contracts for U.S. firms, effectively a tit-for-tat proposal after the U.S. made a similar move. The U.S. official on Tuesday said Mexico’s offer doesn’t move the ball forward.<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">Canadian Foreign Affairs Minister Chrystia Freeland, speaking in Ottawa on Tuesday, said there’d been “good progress” but that “significant differences remain” on key issues such as the auto rules-of-origin and dispute panels.<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">The sprint for a U.S. tax overhaul this year has overtaken much of the agenda in Washington, diverting some attention from Nafta. There’s still no clear path to a deal on a successor to the North American Free Trade Agreement, which governs more than $1 trillion in trade between the U.S. and its two biggest export markets.<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class="">— With assistance by Greg Quinn<o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""> </o:p></div></div><div class=""><br class=""></div><div class=""><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="color: rgb(31, 73, 125);" class="">POLITICO</span><o:p class=""></o:p></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="color: rgb(31, 73, 125);" class=""> </span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><b class=""><span style="font-size: 14pt; color: rgb(31, 73, 125);" class="">Lighthizer: Time for Canada, Mexico to get serious in NAFTA talks<o:p class=""></o:p></span></b></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="color: rgb(31, 73, 125);" class=""> </span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">By Doug Palmer <o:p class=""></o:p></div><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">11/21/2017 06:38 PM EDT<o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">U.S. Trade Representative Robert Lighthizer lashed out at Canada and Mexico today, accusing them of failing to engage seriously in talks on renegotiating NAFTA.<o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">"While we have made progress on some of our efforts to modernize NAFTA, I remain concerned about the lack of headway," Lighthizer said in a statement at the end of the fifth round of talks in Mexico City. "Thus far, we have seen no evidence that Canada or Mexico are willing to seriously engage on provisions that will lead to a rebalanced agreement. Absent rebalancing, we will not reach a satisfactory result."<o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">Lighthizer made no reference to President Donald Trump's repeated threats to withdraw from the pact unless Canada and Mexico agree to new terms. But his frustration with the course of the negotiations was apparent in his brief two-paragraph statement.<o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">"A rebalanced, updated NAFTA will promote greater prosperity for American workers, farmers, ranchers and businesses and strengthen the North American region as a whole," Lighthizer said. "Our teams will be meeting again next month in Washington. I hope our partners will come to the table in a serious way so we can see meaningful progress before the end of the year."<o:p class=""></o:p></p><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 14pt; font-family: Calibri, sans-serif;" class="">POLITICO <br class=""><b class="">Chief Negotiators’ Statement: Some progress made on NAFTA, next round set for Jan. 23-28 in Montreal<o:p class=""></o:p></b></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><b class=""> </b></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">By Megan Cassella <o:p class=""></o:p></div><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">11/21/2017 06:27 PM EDT<o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">MEXICO CITY — Chief NAFTA negotiators issued a terse joint statement today, saying some progress had been made in the fifth round of talks over the past seven days. However, no chapters were closed in a sign of the difficulty surrounding the overall negotiations.<o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">The statement said the countries had agreed to hold the sixth round of negotiations from Jan. 23-28, 2018, in Montreal, Canada. Negotiators will also continue their work in meetings in Washington, D.C., in December, the statement said.<o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">The complete statement reads:<o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">"Today in Mexico City, the negotiating teams of Mexico, Canada, and the United States, concluded the Fifth Round of the renegotiation and modernization of the North American Free Trade Agreement (NAFTA), gathering nearly 30 negotiating groups.<o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">"In response to Ministerial instructions at the end of the Fourth Round, Chief Negotiators concentrated on making progress with the aim of narrowing gaps and finding solutions. As a result, progress was made in a number of chapters.<o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">"Chief Negotiators reaffirmed their commitment to moving forward in all areas of the negotiations, in order to conclude negotiations as soon as possible. Ministers have agreed to hold the Sixth Round of Negotiations from January 23-28, 2018, in Montreal, Canada. <o:p class=""></o:p></p><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt; font-family: 'Times New Roman', serif;" class="">"In the meantime, negotiators will continue their work in intersessional meetings in Washington, D.C., throughout mid-December and will report back to Chief Negotiators on the progress achieved."<o:p class=""></o:p></p><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><b class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">POLITICO<o:p class=""></o:p></span></b></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><b class=""><span style="font-size: 22pt; font-family: Calibri, sans-serif;" class="">Mexico says NAFTA talks proceeding at 'good pace'</span></b><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""><o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">By <a href="https://www.politicopro.com/staff/sabrina-rodriguez" target="_top" style="color: purple;" class=""><b class=""><span style="color: rgb(5, 99, 193);" class="">SABRINA RODRIGUEZ</span></b></a><o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">11/21/2017 03:34 PM EST<o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">MEXICO CITY — Mexican negotiators remain optimistic of the prospects of reaching a modernized NAFTA as technical talks this round were going at a “good pace."<o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">No chapters have been closed during this round, which wraps up Tuesday evening. However, customs issues, food safety and annexes — small sections focused on an industry or sector — saw the most substantial progress, and many others were “generating momentum,” a source briefed on<b class=""> </b>the talks said.<o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">Discussions on certain negotiating sessions — like agriculture and rules of origin — will continue until later in the evening, Mexico’s chief negotiator, Ken Smith, told reporters Tuesday.<o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">Mexico will not make counteroffers on certain proposals that it views as unacceptable — namely rules of origin on autos, Smith said.<o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">A challenge beyond that, one source said, is that some proposals are very short and general. That was particularly true with the so-called sunset provision to terminate the deal if all parties don't renew it.<o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">“When you start stripping down those proposals, some of them are very vague,” the source said, adding that it is not Mexico or Canada’s job to flesh out the U.S. negotiators’ proposals for them.<o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">Some have speculated that President Donald Trump's administration could send a withdrawal letter any day in an effort to prod Canadian and Mexican negotiators to accept the U.S.' demands. If that were to happen, “that’s it; the U.S. is no longer part of NAFTA,” another source said, adding that Mexico would invest its energy in working on its agreement with Brazil, Argentina and European partners.<o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">But Mexican officials will not respond to any U.S. strategy that involves sending a withdrawal notice, two sources briefed on the talks said.<o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">Mexico opposes any U.S. strategy that offers, “here’s a clock — six months. Try to fix it. That is unproductive at the maximum level because obviously anything that [Mexico or Canada does] from that moment on is going to be seen in the light of a threat to the U.S.,” one of the sources said.<o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> <o:p class=""></o:p></span></div><div style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;" class=""><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class="">Negotiators are still aiming to wrap up talks by March, the two sources said, but Mexico will not be “hard-pressed into an agreement” because of its 2018 presidential elections. Mexico’s ruling PRI party, which is overseeing the negotiations, is currently lagging behind in early electoral polls as left-leaning Andrés Manuel López Obrador leads. The PRI party has not yet named its candidate.<o:p class=""></o:p></span></div><p class="MsoNormal" style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><span style="font-size: 11pt; font-family: Calibri, sans-serif;" class=""> </span></p></div></body></html>