Mexican Economy Minister Says NAFTA Won’t be a Rushed Deal

Mexico’s Economy Minister Ildefonso Guajardo said on Friday that there will be a trilateral NAFTA meeting at 1 p.m. Eastern Time with his U.S. and Canadian counterparts, even as he warned against rushing a new deal.

“I have to make very clear (that) the quality of the agreement and the balance of the agreement has to be maintained. So we are not going to sacrifice balance and quality for time,” Guajardo told reporters on the doorsteps of the U.S. Trade Representative’s office.

U.S. House Speaker Paul Ryan set a May 17 deadline to be notified of a new North American Free Trade Agreement to give the current Congress a chance of passing it, but Mexico’s top trade official said time was running short to meet such a deadline.

via Reuters

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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