Mexico Economy Minister to Meet With Auto Execs in Detroit

March 2, 2017 Share Print 0

Mexico’s economy minister will travel to Detroit on Friday to meet with executives from automakers Ford Motor Co (F.N) and General Motors Co (GM.N) as Mexico seeks to deter U.S. President Donald Trump from imposing a border tax on Mexican-made goods.

Economy Minister Ildefonso Guajardo will also meet with auto parts makers that have operations in Detroit and Mexico, the ministry said in a statement. He will discuss the state of U.S.-Mexico trade and the future of the North American Free Trade Agreement (NAFTA), the ministry said.

Trump has vowed to exit NAFTA, the 1994 accord that also includes Canada, if he cannot get better terms for the United States.

On Tuesday, Foreign Minister Luis Videgaray said Mexico would only stay in NAFTA if it suited the nation and he rejected the imposition of any tariffs or quotas. The countries have yet to start formal negotiations.

via Reuters

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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.