Mexico Seeking European Trade to Reduce US Dependency

Mexico is about to take another step to pivot its economy away from the U.S. and President Trump.
Mexican officials kick off talks with their counterparts in the European Union on Monday to update their own free trade agreement initially signed in 2000.



Both sides had expressed a desire for a new agreement for years, but only announced “accelerated” trade talks shortly after Trump took office.

“It’s a shared desire to proceed as quickly as possible with this negotiation,” Andrew Standley, the European Union’s ambassador to Mexico, told CNNMoney in February in Mexico City.

That’s not all. Mexican officials head to Argentina later this week for the World Economic Forum’s Latin America summit where they will likely reiterate their interest in buying more goods — particularly corn and soy — from Brazil and Argentina instead of the United States.

via CNN

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza