President Donald Trump routinely threatens to tear up trade ties with Mexico. So Mexico is building backup plans this year, according to CNN.
It’s doubling down on free trade and turning toward allies in Latin America, who are also changing their own tune on trade.
This year, for the first time, 94% of goods moved tax-free across borders in the Pacific Alliance, a trading bloc that includes Mexico, Colombia, Chile and Peru. Formed in 2011, it accounts for half of all trade in the region and covers about 200 million people.
“We are trading as a group of countries in agreement on free trade,” Mexico’s foreign minister, Luis Videgaray,said Wednesday evening in New York. Videgaray spoke alongside the presidents of Colombia and Chile, as well as a Peru’s trade minister.
Videgaray can’t say the same about Trump being in agreement on trade. Round 3 of NAFTA negotiations between the U.S., Canada and Mexico, begin Saturday September 23rd and major issues remain unresolved.
Some see the alliance as a key part of Mexico’s backup plan if Trump withdraws from NAFTA.
“The Pacific Alliance is a new frontier that’s going to move forward with or without the United States,” says Sergio Guzman, an analyst at Control Risks, a global consulting firm. “Countries are seeing the U.S., not just rhetorically but because of NAFTA, as less and less of a dependent partner.”
more recommended stories
AMLO says PEMEX will increase its oil production by the year 2024
Mexican state oil company Pemex is.
Mauricio Vila delivers new vehicles and equipment to the State Public Security Secretariat
Merida Yucatan; May 24, 2019.- Governor.
“Yucatan is an exceptional state when it comes to public safety” (Federal Secretary of Security and Citizen Protection)
“Yucatan is an exceptional state when.
Does Tulum really need a new one thousand-room hotel?
New “Hotel Internacional” in Tulum will.
American Expats say money they had at Monex is gone and the bank isn’t helping them
In late December, Kathy Machir called.
25 countries confirmed to attend “Sargasso Summit” in Cancun
Cancún, Quintana Roo – 25 countries.
Facebook takes down billions of fake accounts
Facebook took down 2.2 billion fake.
Trump orders intel agencies to assist with review of “Russia probe”
Looks like “investigating the investigators” has.
British Prime Minister Theresa May announces resignation
“I tried three times. I believe.
Governor Mauricio Vila Dosal supervises maintenance works on the Mérida-Progreso highway
Governor Mauricio Vila Dosal supervised the.