President Trump Says the U.S. May be Near a ‘Big Trade Agreement’ with Mexico

(Bloomberg) — President Donald Trump said the U.S. may be on the verge of a “big Trade Agreement” with Mexico as the Nafta representative of that nation’s president-elect signaled that the thorny issue of rules for the energy industry seems to be resolved.

Trump emphasized the collaboration with the current and incoming Mexican administrations. “Our relationship with Mexico is getting closer by the hour,” he tweeted early Saturday. “Some really good people within both the new and old government, and all working closely together.”

Jesus Seade, the envoy from incoming Mexican leader Andres Manuel Lopez Obrador, arrived at a meeting with U.S. Trade Representative Robert Lighthizer saying the nations have resolved concerns that the deal had too many restrictions on how the next government can treat foreign oil companies investing in Mexico.

“It was a rich, fun, important negotiation, from which everything emerged in a very satisfactory way for all involved,” Seade told reporters after returning to Washington following meetings with the incoming administration in Mexico City on Thursday.

“We’ve adjusted very well the focus, but without changing the content, the substance, and we’ve arrived at a solution that should be satisfactory for everyone,” Seade said. “We still need to check technical texts, and I want to be respectful of everyone, but it’s now substantially agreed, with the correct focus.”

Big Day

Mexican Economy Minister Ildefonso Guajardo and Foreign Minister Luis Videgaray also attended the meeting with Lighthizer, and Guajardo said he expects Saturday to be a big day for negotiations.

Nafta talks are poised to spill into next week, pushing up against the goal for a deal by the end of the month, as the countries work out their issues before Canada is expected to rejoin the talks to update the three-nation agreement.