NAFTA Now, Nineteen, Or Potentially Never

This week is Now, Nineteen (as in 2019), or potentially Never in the ongoing renovation of the North American Free Trade Agreement (NAFTA). A US-Mexico agreement in principle (aka the "handshake") likely will come in the wake of this week's (Tuesday) meetings between Mexico's Secretary Guajardo and United States Trade Representative (USTR) Lighthizer. The focus thereafter will target Canada as the parties attempt to close the entire deal before the December 1, 2018 transition to the new President of Mexico, Andrés Manuel López Obrador (AMLO).

The new NAFTA (NAFTANEXT) will include benefits for companies operating in the North American production platform, yet those will come with new compliance and documentation requirements that warrant close inspection. Additionally, this week's NAFTA developments have implications beyond North America's supply and value chains as they will provide guidance on the Section 232 national security tariffs on steel, aluminum, and