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LatinNews Daily - 16 March 2018

In brief: Mexico

* Mexico’s economy minister, Ildefonso Guajardo, has warned that if a full agreement over the renegotiation of the terms of the North American Free Trade Agreement (Nafta) between Mexico, Canada, and the US is not reached by April, it is unlikely that a deal could be concluded this year. Speaking at the World Economic Forum on Latin America regional economic meeting currently being held in São Paulo, Brazil, Guajardo explained that the upcoming 1 July general election in Mexico, the November US midterm elections, and the inauguration of Mexico’s new government in December will complicate any negotiations due to ulterior political considerations. “We have a tight calendar…If we can’t reach an agreement by April, concluding the negotiations before the end of the year will be very difficult”, Guajardo told the forum. Responding to questions about the possibility of Nafta unravelling if the US chooses to unilaterally abandon the agreement, as it has threatened to do if no satisfactory new deal can be reached, Guajardo responded: “We have to be prepared to have a Nafta without the US…Is there a risk that Nafta will unravel? No. Nafta will continue in Mexico and Canada”, Guajardo said.

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