Mexico sets condition for FTA renegotiation with US

Toronto, Feb 22: Washington must acknowledge that the US has profited from the North American Free Trade Agreement (FTA) before Mexico will agree to renegotiate the pact, Mexican Economy Secretary Ildefonso Guajardo said. Guajardo, who is in Toronto for a conference on the future of relations in North America along with Foreign Relations Secretary Luis Videgaray, said on Tuesday that without such an acknowledgment by the US government, talks on revising FTA would get off to a bad start.

The Mexican Economy Secretary said he did not expect talks on renegotiating FTA to begin “before the summer”, Efe news reported

Guajardo admitted that the negotiations would “not be easy” and would definitely not include quotas or tariffs.

Trump threatened during the campaign to walk away from FTA, saying it was a destroyer of American manufacturing jobs and benefited Mexico, although he later said he would seek to renegotiate the trade agreement. FTA, whose members are the US, Mexico and Cada, took effect on January 1, 1994. (IANS)