Canada's Freeland is encouraged but needs Canada's signature to complete the deal.
Mexico's current President Enrique Peña Nieto sayd he spoke to Canada's Trudeau and said it was important Canada rejoined that the talks to seek trilateral accord this week.
Meanwhile, a spokeperson for Canada's Foreign Minister Chrystia Freeland, said:
- Canada encouraged by optimism on NAFTA, but
- Canada's signature needed on new NAFTA
Pres. Trump is expected to announce at 11 AM ET, that Mexico and US have reached a bilateral trade agreement.
The agreement is said to include a provision that would require more auto manufacturing be done in high-wage factories.
If a trilateral deal is reached, it would allow Pres. Trump to notify Congress that a deal had been reached. That starts a 90-day clock under the rules governing the American president's trade negotiating authority. It also alloww Mexican President Enrique Pena Nieto to sign the deal before his successor Andres Manuel Lopez Obrador aka. AMLO takes office (he takes over on December 1). It is a concern that if a deal is not complete before AMLO takes over, he may look to change some of the provisions.
It is unclear if there is a sunset clause.