May 9, 2018—Talks to update the NAFTA trade deal have progressed in an attempt to resolve areas before elections in Mexico and the U.S. complicated the process, reported CNBC.
The discussions will cover the rules of origin that govern what percentage of a car needs to be built in the North American Free Trade Agreement region to avoid tariffs, according to the report.
Mexico will hold its presidential election on July 1 and the country's main auto sector lobby has described the U.S demands of raising the North American content to 75 percent as "not acceptable".
