White House close to NAFTA deal with Mexico

The Trump administration reportedly is close to striking a deal with Mexico on a revamped North American Free Trade Agreement.

Both Mexico and the U.S. have strong incentives to push through a NAFTA deal quickly, with Mexico's new president taking office in January, and our midterm elections in November.

“Whether that's counter narcotics, economic migrants, things like that, it assists with those things because why? People have jobs. People have things to do. The economy is stronger,” says Nelson Balido, chairman of the Border Commerce and Security Council.

Sources familiar with the discussions say the two sides have largely agreed to new rules on auto trade.

“The automotive industry has really been the center of attention since the Trump campaign started, especially in those states that really elected him,” says Balido.

The deal could also bolster natural gas trade between the two countries and have a trickle down effect on ranchers and growers.

“We import tons and tons of cattle to the United States for processing, a lot of it is grown and fattened in Mexico and brought over, heads of lettuce and tomatoes,” he says. “The idea is to keep costs low for the regular consumer while at the same time bringing up opportunity for everyone.”

 Critics fear it could all backfire once the U.S. enters into talks with Canada.

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