Mexican official: We could leave NAFTA 'if there are no clear benefits'
00:48, Jan 26, 2017
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President Enrique Pena Nieto on Monday outlined a new foreign policy plan that would redefine the country's relationship with the US and to seek new trade partnerships with other countries after Washington withdrew from a multinational trade deal.
President Donald Trump said Sunday he will begin renegotiating the North American Free Trade Agreement when he meets with the leaders of Canada and Mexico.
In office now for only a handful of days, Trump has remained aggressive on his campaign promises to rework trade deals.
Although he viewed speedy renegotiation as a net positive, Guajardo said the reality of trade negotiations would stabilize the process.
"They are principally focused on the countries that have large trade deficits with them", David MacNaughton said. Since Trump's November victory, both Canada and Mexico have announced that they are willing to sit down with the new U.S. administration to reexamine the free trade agreement.
In his negotiations with Trump, Pena Nieto said he would pursue 10 key goals, including "preserving the free trade" between the three.
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Pena Nieto said he was willing to discuss trade, illegal migration and other aspects of bilateral ties with Trump but insisted he would defend Mexico's national interests.
The United States is the biggest business partner for Canada, with PwC saying that the USA represents 79% of growth for Canadian companies.
Throughout his presidential campaign, Trump said he would approve the Keystone XL pipeline and work, early in his presidency, to get it up and running.
Before taking office, Trump expressed his intention to cut US trade deficits at a news conference on January 11, referring to trade with China, Japan and Mexico.
"President Trump is committed to renegotiating NAFTA".
He is also under fire from Kevin O'Leary, a television personality running for the leadership of the opposition right-leaning Conservative Party, who says Mr Trudeau is too weak to stand up to Mr Trump. As soon as it went into effect, tariffs on many exports were removed or reduced. "But we are part of NAFTA, and there are discussions that need to be had, and we'll be having them over the next few weeks". I think we should be vigilant.
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