U.S. President Donald Trump’s timetable to negotiate the North American Free Trade Agreement threatens to slip into an election year for Mexico, which could feel the economic impact of the uncertainty especially if the agreement starts disintegrating.
U.S. Commerce Secretary Wilbur Ross said Wednesday March 8 that the trade talks will probably begin in the latter part of 2017 and shouldn’t last much longer than a year. “I would like the results tomorrow, but that is not the way the world works,” Ross said in an interview with Bloomberg TV.
Even at that speed — and some observers warn the negotiations could take years— the uncertainty of Nafta’s fate will likely hang over the July 2018 presidential election in Mexico, the main target of U.S. complaints.
Trump, who has said Nafta may be the worst trade pact in global history, aims to lock down more favorable terms for U.S. workers, blaming the deal for the loss of manufacturing jobs to lower-wage Mexico. He’s threatened to rip up the agreement if it can’t be revamped. Any Nafta partner can withdraw from the pact on six-months’ notice.
Observers say talks to update or overhaul Nafta, a deal that also includes Canada, are shaping up to be lengthier and more complex than early indications from Trump, who generally has to inform Congress at least 90 days before revising a trade deal. Trump said last month he’d like to speed up the discussions.
To read complete article click here.
more recommended stories
A tirbute to Mexican Tacos on NETFLIX
Netflix has created several successful food.
Mérida is braking all records in the summer of 2019
Sefotur forsees great hotel occupancy and.
Sixth meeting of the U.S.-Mexico Energy Business Council
Mexico City – U.S. Department of Commerce.
Investments of more than 18 billion pesos for Yucatan
“A total of 9 companies of.
Mérida: the safest city in Mexico (National Institute of Statistics and Geography survey)
Ecatepec (Estado de México), Coatzacoalcos (Veracruz),.
AMLO says NO to the USA and claims “El Chapo´s” fortune for Mexico
CDMX México (Times Media Mexico) –.
66 years of fervor
“Gremio del campo” (the guild of.
Police and military carry out investigations in the Cancun´s hotel zone
CANCÚN Quintana Roo (Times Media Mexico/Photos:.
Global health emergency declared over deadly Ebola outbreak in Congo
“This is an emergency. There is.
NH Collection Merida Paseo Montejo Hotel inaugurated
The NH Collection Merida Paseo Montejo.