Mexico threatens to pull out of Nafta deal
MEXICO could pull out of the North American Free Trade Agreement (Nafta) if a renegotiation of its terms does not benefit Latin America’s second-largest economy, Economy Minister Ildefonso Guajardo has said.
“There could be no other option. Go for something that is less than what we already have? It would not make sense to stay,” Guajardo said when asked if Mexico could pull out of the trade deal with Canada and the US. “The strategy for this treaty needs to be one in which everyone wins. It’s impossible to sell it here at home if there aren’t clear benefits for Mexico.”
US President Donald Trump has vowed to withdraw from Nafta if he cannot renegotiate it to benefit US interests. Trump formally withdrew the US from the Trans-Pacific Partnership on Monday.