Mexico Open to ‘Rebalancing’ Trade Amid U.S. Nafta Overhaul

6/6/2017 Bloomberg

NAFTAMexico would accept some “rebalancing” of its trade surplus with the U.S. as part of a revamped North American Free Trade Agreement, as long as that doesn’t lead to tariffs or other restrictions, said Mexican Economy Minister Ildefonso Guajardo.

“We are willing to consider any rebalancing, as long as it’s through trade expansion, not through trade restriction,” Guajardo said Tuesday in an interview with Bloomberg News in Washington, adding that his government opposes tariffs or quotas on Mexican goods or services. “As long as it’s about how can we buy more from each other, we’re willing to work that way.”

As part of Nafta talks, Mexico would be open to a pledge not to manipulate its currency for competitive purposes, he said. U.S. Trade Representative Robert Lighthizer has indicated to American lawmakers that the Trump administration is interested in adding a currency clause to the agreement as a model for other trade deals.

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