ZCZC
BCN-34
MEXICO-FREE-TRADE-NAFTA
New NAFTA reinforces Mexico’s economic stability: minister
MEXICO CITY, Oct. 5, 2018 (BSS/Xinhua) – The new North American Free Trade
Agreement (NAFTA) reinforces stability in Mexico’s economy, the country’s
economics minister said Thursday.
“One of the issues that was weighing heavily … on the rating of Mexican
debt and the Mexican economy was the uncertainty provoked by the lack of a
redefinition of how the trade relationship between Mexico and its main
partner, the United States, would play out,” Mexican Economy Minister
Ildefonso Guajardo said.
“When that doubt is dissipated, the conditions of Mexican economic
stability are reinforced.”
The United States, Mexico and Canada completed the modernization of NAFTA
after a one-year-long renegotiation, reaching a new trade deal known as the
United States-Mexico-Canada Agreement (USMCA) on Sept. 30.
The revamp began at the request of the administration of U.S. President
Donald Trump, who called NAFTA the worst agreement signed by the United
States and threatened to abandon it on several occasions.
The governments of the United States, Mexico and Canada signed NAFTA in
1993, which came into force the next year and created a trilateral trade bloc
in North America.
BSS/XINHUA/HR/1208