Mexico has expressed a willingness to talk about – but not renegotiate – NAFTA now that the Presidential election is over.
Mexico’s economy minister says the yet-to-be-scheduled sit down with President-elect Trump will stress the strategic importance that the deal has had to the North American region.
The Trans Pacific Partnership (TPP), is also expected to be on the agenda. Viewed by many as a way to update NAFTA and assuage critics, Mexico may look to circumvent the U.S. and strike out on its own if the world’s largest economy backs out of the agreement.
Mexico and the United States do about half a trillion dollars in trade each year; Sixteen percent of total U.S. goods exports have gone to Mexico so far this year.
The President-elect was vehemently opposed to trade deals during the campaign. Will that position continue? Still too early to tell if rhetoric will translate into policy. We’ll continue to follow the story.