Mexico minister expresses concern over U.S. talk of deficits in NAFTA goals

07/18/2017 Reuters

MEXICO CITY (Reuters) – Mexico’s economy minister Idelfonso-Guajardo said on Tuesday he was concerned that the United States was still insisting on reducing trade deficits in the objectives it set out for the renegotiation of the NAFTA trade deal on Monday.

Speaking on Mexican television by phone from Japan, Guajardo likened what he called the U.S. “insistence” on cutting its trade deficits with its NAFTA partners Mexico and Canada to a somewhat “mercantilist” vision of international trade.

“What I have said insistently in my conversations with my colleagues is that we’re delighted to review trade balances provided that we focus on how to improve them by expanding commerce, not by reducing it,” Guajardo said.

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