NAFTA countries to review trade policies
Trade representatives from the United States, Mexico and Canada agreed to study the most favored nation tariffs of the three countries in order to determine if harmonizing them could further promote trade by reducing transaction costs. During the annual meeting of the NAFTA Free Trade Commission in Montreal the countries also agreed to pursue further liberalization of the rules of origin.
The ministers also welcomed the creation of the North American Steel Trade Commission, designed to foster more cooperation on international steel policy matters. The committee will meet for the first time on Nov. 21 in Mexico.