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Mexico must be ready for the possibility that there is no NAFTA, says minister

Economy Secretary Ildefonso Guajardo insisted today that Mexico must be ready for all scenarios in the renegotiation of NAFTA, including the possibility that there will be no agreement, and defended the importance of Mexican product purchases in some areas of the United States.

Mexico, Nov 15 (EFE) .- The Secretary of Economy, Ildefonso Guajardo, insisted today that Mexico should be ready for all scenarios in the renegotiation of NAFTA, including the possibility that there is no agreement, and defended the importance of Mexican purchases of products in some areas of the US.

"We are working on the search for an agreement (...) that is positive for the three economies, "he remarked to the media just two days after the fifth round of negotiations to update the North American Free Trade Agreement (NAFTA), in force since 1994 between Mexico, USA for all scenarios, "said Guajardo, who also referred to recent statements by US Trade Secretary Wilbur Ross.

Ross said Tuesday in a business conference that a breach of NAFTA would have an "especially devastating" effect on Mexico, and asked its two partners to "come to their senses" and accept a new pact.

Guajardo He suggested that Ross ask the state of Iowa or the cities of Seattle or Detroit how important their sales are of yellow corn, red apples or automotive auto parts, respectively.

"Probably in the macro context there are relative differences in the size of the export sector of the economies", but when looking at "the regional impact (...), georeferenced politically, you see that there are many impacts and very important, especially for Republican lawmakers who are concerned about the future of the treaty, "he said.

Guajardo He made the declarations to the journalists after participating in a business meeting with the Uruguayan President, Tabaré Vázquez, who also made an official visit to Mexico.

The fifth round of negotiations for the NAFTA update will take place from November 17 to 21 in Mexico City.

This will occur after a complicated fourth round in Washington that closed without advances and with the rhetoric of the Donald Trump government more burning than ever, considering that neither Mexico nor Canada meet their demands, which led to extend the talks until 2018.

Among the demands of Washington, which have hindered the progress of negotiations with their counterparts, stands out the increase in share of products manufactured in the United States, especially in the automotive sector and one of the key parts of the commercial pact.

Also the clause "sunset", which would force review the treaty every five years and it would cause it to be suspended if any of its three members did not agree to extend it.

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