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
The Maya Train, a project with gender perspective
CHEMAX, Yucatan, (October 27, 2021).- In.
AMLO will be in Yucatán Thursday, Oct. 28th, to supervise Maya Train works
Mérida, Yucatán, (Ocotber 27, 2021) .-.
Cancun and Riviera Maya will start 2022 with high hotel occupancy
The new flights from Europe and.
Man caught stealing beer, clothes, and dog food at Walmart in Cancun
Cancun, Quintana Roo, (October 27, 2021).-.
Campeche cemeteries are allowed a capacity of 50% on Day of the Dead
Campeche, (October 27, 2021).- Although the.
Incredibly the cost of AMLO’s Maya Train Project increases by 42%, from 140 to 200 billion pesos
In addition, this project faces 25.
Ignorant people are killing Mérida‘s ‘great lung’ with garbage
Given the garbage that people throw.
Yucatán’s public debt exceeds 6.2 billion pesos
MÉRIDA, MX.- In the corresponding report.
New taxes ruled out for Climate Change Law
Mérida, Yucatán.- After the ruling to.
Yucatán ranks first nationwide when it comes to labor occupation
Mérida, Yucatán.- Yucatán reported 98.2% occupation.