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U.S. Shows Flexibility on Key Auto Demand Amid Nafta Progress

  • Canadian ambassador calls the development a ‘positive thing’
  • Loonie, peso and stocks all rise on renewed optimism
A worker wearing a United Auto Workers (UAW) shirt assembles a Ford Motor Co. Super Duty series pickup truck at the company's truck manufacturing plant in Louisville, Kentucky, U.S., on Tuesday, Dec. 1, 2015. 

Photographer: Luke Sharrett/Bloomberg

Updated on

The U.S., Canada and Mexico are making headway on the key Nafta issue of auto rules, sending the loonie and peso higher in the latest sign of progress in months-long talks.

There are indications the U.S. is willing to budge on one of its core demands as President Donald Trump pushes to get a deal ahead of looming Mexican elections. One person familiar with the talks, speaking on condition of anonymity, said the Americans are showing flexibility on a demand for a 50 percent U.S.-content requirement, but it hasn’t been formally withdrawn. Another person familiar cautioned against being too confident in how the U.S. will proceed.