Mexico’s President Seeking Meeting with President Elect Trump

Mexico’s President Seeking Meeting with President Elect Trump

Mexico’s President Seeking Meeting with President Elect Trump

Mexico is willing to hold talks with US President-elect Donald Trump to modernize the North American Free Trade Agreement, (NAPTA) President Enrique Pena Nieto said.

Mexico will seek dialogue with the US on its trade relationship following comments made by Donald Trump during his campaign, President Pena Nieto said.

Speaking at the Asia-Pacific Economic Cooperation summit in Lima, Peru Saturday, he defended the deal, saying that for every USD that Mexico exports, North American materials account for $0.40. Globalization generates more benefits than harm, he said.

“We’re at the stage of prioritizing dialogue as the path through which we may able to establish a new agenda for bi-lateral relations,” President Pena Nieto said. “More than talking about renegotiating NAFTA, it’s modernizing NAFTA. Let’s modernize NAFTA so it becomes a more powerful, modern vehicle.”

 The bill to establish the trade deal with Mexico and Canada was approved by the US Senate in Y 1993 in a bi-partisan vote, and signed by then-President Bill Clinton. It went into effect in Y 1994.

Donald Trump frequently criticized NAFTA during the Presidential election, describing it as the worst deal ever and blaming it for US job losses.

The Mexican currency, the Peso dropped as much as 12% to record levels following  Donald Trump’s election. Donald Trump said during the campaign he will seek to renegotiate or scrap NAFTA, boost tariffs, and build a wall along that US-Mexico border that Mexico would be forced to pay for.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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