August 27, 2018 / 5:11 PM / 3 months ago
U.S.-Mexico trade deal has six year reviews, no expiry: U.S. official
(L-R) White House senior adviser Jared Kushner, national security adviser John Bolton, U.S. Trade Representative Robert Lighthizer and Vice President Mike Pence look on as U.S. President Donald Trump announces a deal to replace the North American Free Trade Agreement (NAFTA) at the White House in Washington, U.S., August 27, 2018. REUTERS/Kevin Lamarque
WASHINGTON (Reuters) - The United States and Mexico have agreed to a 16-year lifespan for the North American Free Trade agreement, with a review every six years that can extend the pact for 16 years more, U.S. Trade Representative Robert Lighthizer said on Monday.
The plan would not contain an automatic expiration for NAFTA as proposed in the prior U.S. demand for a “sunset clause.”
(This story corrects to ‘United’ from ‘Untied’ typographical error, in first paragraph)
Reporting by David Lawder; editing by Grant McCool
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