U.S., Canada and Mexico Wrap Up Nafta First Round

By Sara Munoz Features Dow Jones Newswires

The U.S., Mexico and Canada on Sunday afternoon wrapped up the opening round of talks to renegotiate the 23-year-old North American Free Trade Agreement, whose overhaul is a key objective of the Trump administration.

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A statement issued by the office of the U.S. Trade Representative by the three countries said experts covered more than two dozen different negotiation topics over five days of meetings, and would stick to a tight timetable to complete the renegotiation, reconvening in Mexico from September 1 to 5, Canada in late September and the U.S. in October.

"The scope and volume of proposals during the first round of the negotiation reflects a commitment from all three countries to an ambitious outcome and reaffirms the importance of updating the rules governing the world's largest free trade area," the statement said.

While the U.S. has vowed to revamp the agreement to reduce the trade deficit and bring back manufacturing jobs, Canada and Mexico generally hope to limit changes to the deal.

Officials from all three countries will continue to seek input from the private sector, industry, civil society, labor, and state and provincial officials as the talks continue, the statement said.

Write to Sara Munoz at Sara.Munoz@wsj.com

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(END) Dow Jones Newswires

August 20, 2017 16:27 ET (20:27 GMT)