Mexico minister says can't yet see common ground to finish NAFTA talks

Prime Minister Justin Trudeau is greeted by U.S. President Donald Trump as he arrives at the White House in Washington D.C. on Wednesday

"We have seen proposals that would turn back the clock on 23 years predictability, openness and collaboration", Canadian Foreign Minister Chrystia Freeland said in Washington. It also rejected the Trump administration's suggestion that the trade agreement should be up for renewal every five years.

He argued that Mexican and Canadian trade negotiators are refusing to accept provisions they have agreed to in the past, including portions of the Trans-Pacific Partnership (TPP) agreement.

"As hard as this has been, we have seen no indication that our partners are willing to make any changes that will result in a rebalancing and a reduction in these huge trade deficits", he said.

The peso MXN=D2 slipped over 1.0 percent against the dollar on Monday to its weakest level since May 18. However, Mexican Economy Secretary Ildefonso Guajardo told CNNMoney in April that such a proposal wouldn't work for him.

"Frankly, I am surprised and disappointed by the resistance to change from our negotiating partners on both fronts", he said during a press conference on Tuesday.

All sides remain committed to talks for now: The next round will be in Mexico City starting November 17.

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Describing some of the demands as "ridiculously extreme", Moises Kalach, head of the global negotiating arm of Mexico's powerful CCE business lobby, said the USA government knew that it would not be able to push them through.

"As retailers, we strongly urge all parties to preserve the parts of NAFTA that work for American businesses and to avoid proposals that would damage the USA economy and hurt American families".

Although trade between the United States, Canada and Mexico has more than quadrupled since 1994, Trump blames the pact for hundreds of thousands of lost manufacturing jobs in the United States and a $64 billion trade deficit with Mexico.

In Canada, the industries of eggs, milk and poultry are governed by a system of supply management.

The Trump administration has also set out proposals that could impose fresh restrictions on long-haul trucking from Mexico, according to a person familiar with the matter.

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