Thursday, January 26, 2017

Changing NAFTA Provisions May Result in

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Changing NAFTA Provisions May Result in Mexico’s Withdrawal From Deal

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Mexico’s Foreign Minister Luis Videgaray said that Mexico will not agree with unfavourable changes in NAFTA and may withdraw from the deal.

MEXICO CIT (Sputnik) – Mexico will not agree with unfavourable changes in the North American Free Trade Agreement (NAFTA) and may withdraw from the deal, Mexico’s Foreign Minister Luis Videgaray said.

“Of course, Mexico will not agree with the provisions that will be unfavorable for the state interests, particularly, in trade. If NAFTA is modified, there is also an opportunity to withdraw from the treaty and regulate trade between Mexico and the United States in accordance with the rules of the World Trade Organization (WTO),” Videgaray said during a press conference in Mexico City on Tuesday.
Earlier on Tuesday, Mexico’s Economy Minister Ildefonso Guajardo also warned that Mexico may leave NAFTA if the country did not gain profit from the treaty.
NAFTA was signed by the United States, Mexico and Canada in 1994 to facilitate the trade between the three countries. During the election campaign, US President Donald Trump vowed to renegotiate NAFTA, which from his point of view is harmful for the US economy. He also promised to build a wall on the Mexican border as well as to make Mexico pay for it in an effort to stem illegal migration into the United States.