The most significant outcome from round six of the NAFTA talks may be an agreement to continue talks past March. Our prior expectation of a U.S. termination notice had been predicated on the combination of: negotiations ending before the election break for the Mexican government and; a risk of a lack of progress on automotive rules-of-origin. Progress has reportedly been made in some contentious areas via a mixture of opt-outs (for example in investor-state dispute settlement) and reframing (e.g. the sunset clause becoming a “regular review”). The automotive industry remains the most con...