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
Over two thousand dogs and cats have been vaccinated in Valladolid
With the installation of seven locations.
Yucatecan pelicans and flamingos on the brink of becoming endangered species
“Pelicans and flamingos are some of.
Teacher Leaders Present an Innovative Blueprint for Relevant Learning in the Age of AI
What does the fourth industrial revolution.
New technology used in Yucatán to find people lost at sea
As part of a third aspect.
“Pet uh” Civil Association aims to promote Peto, Yucatán
PETO.- In the coming weeks the.
Mexico overtakes Brazil as the largest automobile producer in Latin America
Mexico registered a new record in.
CICY Biofactory strengthens plant-multiplication technologies
With the aim of transferring the.
IYEM looking for entrepreneurs willing to form serious companies in Yucatan
Government and businessmen seek to continue.
Yucatán; the state with the lowest number of high-impact crimes in Mexico
The National Public Security System released.
Miami pedestrian bridge collapses, killing at least six people
A recently built, 950-ton pedestrian bridge.