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World Business Report: First broadcast 2017/08/21 00:06 GMT: Canada, Mexico and USA to Accelerate NAFTA Talks

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First broadcast 2017/08/21 00:06 GMT

First broadcast 2017/08/21 00:06 GMT: Canada, Mexico and USA to Accelerate NAFTA Talks

Canada, Mexico and USA to Accelerate NAFTA Talks

BBC World Service - World Business Report, Canada, Mexico and USA to Accelerate NAFTA Talks

Negotiators say they are committed to a comprehensive process to overhaul the trade deal.

The first round of negotiations to revamp the North American Free Trade Agreement ended with US, Canadian and Mexican delegates releasing a joint statement saying they are committed to a comprehensive process to overhaul the 23 year old accord. Professor Rajneesh Narula, an expert in global trade at Henley Business School, tells us how the political clock is ticking with elections due within months in Mexico.

On Monday millions of Americans will witness a great celestial event, a total eclipse of the sun, which will be seen across the US for the first time in 99 years. As millions of people take time off work it's estimated the eclipse could cost the US economy $700 million dollars in lost output, but some states will enjoy an economic boost from tourism. The event will be seen first by people in the state of Oregon, where the authorities are well prepared, according to Chris Havel from the Oregon Emergency Management Centre in Salem. We also hear from Steven Gaydos, at Variety in Los Angeles, how it is a good chance for television broadcasters to increase advertising revenues.

If you are about to book a late August holiday online then beware because clever marketing experts are ready for you. It seems when we see comments like "six people are looking at this out now" or "just two seats left at this price," we follow the herd and make a booking, even though it might not be bargain. According to a study, by InterContinental Hotels Group, one in ten of us are more likely to book when we see these messages and we accept reviews from other travellers as more enticing than discounted prices. We hear from Professor Joe Gladstone, who carried out the research at University College London.

(Picture: The flags of Canada, the United States, and Mexico at the NAFTA talks. Paul J. Richards via Getty.)

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