Mexico says NAFTA ministers will reconvene again in early July to craft feasible agreement

According to Mexico economy minister Guajardo

  • NAFTA ministers will be engaging strongly again in first week of July
  • To try and craft an agreement that is feasible, workable and benefits all 3 nations
  • Agreement on NAFTA that does not give certainty will not be of help for businesses
  • Ready to come to solutions that will work for Mexico
  • Also understand that US has strong say in rules of origin on the auto industry
  • What the new US administration has shed light upon is that the global trade system was in need of fixing
  • Global policy makers need to reconstruct trade policies to strengthen them and make them more resilient
  • There is a big part of NAFTA that needs to be redesigned
  • The fact that globalisation and trade is challenged by the heart of G7 shows there is growing discontent of globalisation among public

Apart from the fact that it seems like NAFTA discussions are further kicked down the road and that there is still much to work on, seems like he's becoming the US' cheerleader with regards to the trade rhetoric that is taking place - quite a shift compared to the countermeasures that they are wanting to implement against the US in response.

Top Brokers

Sponsored

General Risk Warning