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Financial News: MEXICO: NAFTA Talks Focus Should Be Moved From

MEXICO: NAFTA Talks Focus Should Be Moved From U.S. Trade Deficit - Government

10/04/2017 - 17:58:00 (RTTNews)

(RTTNews) - Mexico's Economy Minister, Ildefonso Guajardo, said Wednesday that the focus of the renegotiation of the North American Free Trade Agreement (NAFTA) should be shifted from the United States trade deficit with Mexico and reinforce areas of opportunity for all the bloc's nations.

In an interview with Televisa, the official said that "we cannot follow on this view that the sole measurable goal could be to reduce trade deficits."

According to him, "to discuss [only] the deficit issue would generate a protectionist war that would dismantle the advances of the agreement."

Guajardo also stressed that trade balances cannot be used as a target in public policy and, in any case, an eventual dissolution of NAFTA would only increase the U.S. deficit with Mexico.

In the third round of NAFTA negotiations between Mexico, the United States and Canada, last week, negotiators made significant progress in several areas by consolidating proposals, closing gaps and agreeing on elements at negotiation, said the Mexican government.

The fourth round of NAFTA's renegotiation is scheduled for October 11 to 15 in Washington, D.C.

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