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Financial News: MEXICO: Country Will Seek 'Plan B' If Trump

MEXICO: Country Will Seek 'Plan B' If Trump Pulls U.S. Out Of NAFTA

08/29/2017 - 20:29:00 (RTTNews)

(RTTNews) - Threats by U.S. President Donald Trump to withdraw the United States from the North American Free Trade Agreement (NAFTA) during renegotiations are encouraging Mexico to create a "Plan B," said the Mexican Secretary of Economy, Ildefonso Guajardo Villarreal.

According to him, Mexico needs to be prepared to the possibility of the United States walking away from the NAFTA deal.

"The best thing Mexico can do is to have an alternate, clear, pragmatic, plan to tackle something that is not our goal, but that may be the result of a process that does not go ahead. We need to be prepared for a scenario in which the United States or its president leaves the NAFTA," Villarreal said in an interview with the El Economista newspaper.

According to him, Mexico must advance in its commercial diversification with South American countries, such as Brazil and Argentina, with the European Union, the Pacific Alliance, and other Asian countries.

Trump said there was little chance that the NAFTA renegotiation, currently underway between Mexico, Canada, and the U.S., would be successful. The president attributed the potential failure of the negotiations to Mexico, claiming that its Southern neighbor would be hampering a new agreement.

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