Fourth NAFTA Round to Run Longer After Parties Finish Competition Chapter
U.S., Canadian and Mexican officials will meet for two days longer than originally scheduled for the fourth round of NAFTA renegotiations in Arlington, Virginia, the Office of the U.S. Trade Representative announced. The round will take place Oct. 11-17 “to…
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allow additional time for negotiations,” USTR said. Since the third renegotiation round held Sept. 23-27, parties to the pact have finished an updated competition chapter, delivering on a trilateral expectation stated at the conclusion of the third round (see 1709280030). The new competition chapter “substantially updates” the original one and “goes beyond anything the United States has done in previous free trade agreements,” USTR said, as the three countries agreed to obligations for “increased procedural fairness” in competition law enforcement. Officials believe the chapter will help ensure certain rights and transparency under each nation’s competition laws.