Videgaray: Mexico Willing to 'Step Away from NAFTA' Andrew V. Pestano - UPI
go to original March 24, 2017

Mexico Foreign Relations Minister Luis Videgaray discusses the future of U.S.-Mexico trade relations. (Bloomberg)

Mexican Foreign Minister Luis Videgaray said that if North American Free Trade Agreement negotiations don't benefit all parties involved, the country is willing to "step away" from it. In an interview with Bloomberg, he said pulling out of NAFTA would be a last resort.

"If what is on the table is something that is not good for Mexico, Mexico will step away from NAFTA," Videgaray said.

"Both parties have leverage with each other. The questions is: Can you pull your leverage without hurting yourself? Probably not. We're not approaching this in that sense. It should be a constructive process," he added.

Videgaray said Mexico's relationship with the United States goes beyond trade; it already affects the politics of Mexico ahead of a presidential election in which NAFTA could be a wedge issue.

Mexico will hold presidential elections in 2018. During an interview with Bloomberg, Videgaray said he anticipates negotiations between Mexico, Canada and the United States over NAFTA could begin in the summer.

When asked if negotiations could begin later and spill over into 2018, during Mexico's presidential cycle, and make relations with the United States and trade a key issue, Videgaray said those issues are the reasons the Mexican and U.S. governments must work constructively.

Read the rest at UPI

Related: What People Get Wrong When They Talk About NAFTA (Marketplace)

Related: This Is How Mexican Companies Should Prepare for the End of NAFTA (Nearshore Americas)

Related: Mexican FM Says US Withdrawal From TPP Gives Bilateral Trade Deals a Chance (Sputnik)

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