{"id":22954,"date":"2017-02-24T05:50:02","date_gmt":"2017-02-24T05:50:02","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=22954"},"modified":"2017-02-24T05:50:02","modified_gmt":"2017-02-24T05:50:02","slug":"confident-mexico-says-will-not-rush-to-negotiate-nafta-with-trump","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/confident-mexico-says-will-not-rush-to-negotiate-nafta-with-trump.html","title":{"rendered":"Confident Mexico says will not rush to negotiate NAFTA with Trump"},"content":{"rendered":"

\n\tConfident Mexico says will not rush to negotiate NAFTA with Trump<\/span><\/span><\/strong><\/span>
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\n\tConfident Mexico says will not rush to negotiate NAFTA with Trump:-<\/strong> Mexico is increasingly confident that U.S. President Donald Trump will not be able to impose harsh barriers on imports <\/span><\/span><\/span>anytime<\/span><\/span><\/span> soon, and officials signaled they may hit their northern neighbor's most trade-sensitive districts in case he does.<\/span><\/span><\/span>\n<\/p>\n

\n\tTrump wants to renegotiate the North American Free Trade Agreement with Mexico and Canada, but talks cannot begin until he triggers a 90-day notice period by informing Congress. Nominees for several important U.S. posts including trade representative and agriculture secretary have not yet been confirmed.<\/span><\/span><\/span>\n<\/p>\n

\n\t"As long as our counterparts in Washington don't define their objectives … today NAFTA regulates trade, so we are not in a hurry to change anything," Economy Minister Ildefonso Guajardo said at an event on Thursday.<\/span><\/span><\/span>\n<\/p>\n

\n\tThe view of some Mexican officials and business leaders that the U.S. Congress, Supreme <\/span><\/span><\/span>Court<\/span><\/span><\/span> and some state governors are counterweights to Trump has also been reflected in markets, with the peso rallying in recent days to its strongest since Trump's election in November.<\/span><\/span><\/span>\n<\/p>\n

\n\t"Time has in some way meant that the pumpkins have fallen <\/span><\/span><\/span>in<\/span><\/span><\/span> place in our favor," Guajardo later told local radio, using an expression in Spanish.<\/span><\/span><\/span>\n<\/p>\n

\n\tIn an interview with Reuters on Thursday, Trump said he supported some form of border tax to boost jobs. But such a tax would meet resistance in Congress from fiscally conservative Republicans and Democrats.<\/span><\/span><\/span>\n<\/p>\n

\n\tMoises Kalach, from the business group CCE and one of the lead private-sector NAFTA negotiators with the Mexican government, told Reuters that such hurdles could temper Trump's plans.<\/span><\/span><\/span>\n<\/p>\n

\n\t"They balance it out so that this will be done with an institutional methodology, and not through social media," he said. "At home, we're ready, we're ready for what's coming."<\/span><\/span><\/span>\n<\/p>\n

\n\tForeign Minister Luis Videgaray said if the United States taxed Mexican imports, Mexico would "hit them where it hurts," two Mexican newspapers reported, based on recordings they obtained of a closed meeting with lawmakers on Wednesday.<\/span><\/span><\/span>\n<\/p>\n

\n\tVidegaray warned of tariffs targeting congressional districts and states most reliant on exports to Mexico, giving as examples Iowa, Texas and Wisconsin.<\/span><\/span><\/span>\n<\/p>\n

\n\tMexico's Foreign Ministry did not respond to a request for comment about the reports.<\/span><\/span><\/span>\n<\/p>\n

\n\tVidegaray referred to a strategy Mexico used in 2009, slapping locally focused tariffs on 90 U.S. products in a dispute over trucks using U.S. roads. Mexico's trucks were eventually allowed back and the tariffs lifted.<\/span><\/span><\/span>\n<\/p>\n

\n\tComments by U.S. Treasury Secretary Steve Mnuchin to Fox Business Network that the NAFTA renegotiation could be win-win and would not change anything soon calmed nerves in Mexico on Thursday, where Videgaray met with U.S. Secretary of State Rex Tillerson and Homeland Security Secretary John Kelly.<\/span><\/span><\/span>\n<\/p>\n

\n\tSource:- http:\/\/www.reuters.com\/article\/us-usa-nafta-mexico-idUSKBN163033<\/span><\/span><\/span><\/p>\n

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