US And Mexico Agree in the Trade Dispute
The neighbors, USA and Mexico have largely settled their disputes regarding the North American trade agreement Nafta and want to build a bridge with Canada to re-enter the talks.
“I will shortly be speaking to President Donald Trump about the recent bilateral developments in the Nafta negotiations, which could make Canada part of the talks again,” Mexico’s President Enrique Pena Nieto wrote on Twitter on Monday.
He hopes that talks between all three countries will be finalized this week, Pena Nieto wrote. Trump announced a statement shortly after he had previously written on Twitter, the talks look good.
The North American Trade Agreement Nafta is one of the largest free trade agreements in the world. Trump had questioned it after taking office and renegotiated.
The talks for the trilateral agreement had developed positively in recent days between Mexico and the United States. However, Canada is currently not sitting around the table due to significant tensions with the US. Most recently, US tariffs on steel and aluminum imports severely impacted relations with its two neighbors, Mexico and Canada.
President Trump announced the new deal on Monday, saying “we’re going to call it the United-States Mexico trade agreement…It’s a big seal for trade, big deal for our country.”
While the trade news caused stocks to break 8,000 for the first time ever, economic optimism has been high for quite some time. The index has been steadily climbing since Friday, when it reached another all time high of 7,946.
Indicative of the importance of a new deal to auto manufacturers, shares of Ford, General Motors, and Fiat Chrysler all rose on Monday.
Earlier on Monday, Trump had tweeted about “A big deal looking good with Mexico.”
Hülya Karahan: The Founder