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LatinNews Daily - 25 April 2018

In brief: Mexico

* Mexico’s federal senate has ratified the Comprehensive and Progressive Agreement of Trans-Pacific Partnership (CTPP) Asia-Pacific regional free trade agreement (FTA). The CTPP has been signed by 11 of the 12 countries that had negotiated the Trans-Pacific Partnership (TPP) regional trade deal after the US decided to abandon the TPP last year. This means that the deal can now be implemented by Mexico’s federal executive. The ratification of the agreement came during a senate session in which some legislators presented a series of objections against the deal over the negative impact that it could have for Mexico’s textiles, clothing, and shoe manufacturing sectors due to increased competition from CTPP signatories Vietnam and Malaysia. However, the agreement was ratified after senators agreed to demand a series of special provisions to ensure that these sectors are protected from unfair competition from these two CTPP signatory countries. 

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