Mexico’s Slim: If Trump succeeds, so does Mexico

12/1/16 Reuters

2564224814_f800dcc9d8_oMexican billionaire Carlos Slim said on Thursday that if President-elect Donald Trump succeeds in office, it will be good news for Mexico, and that he would be more worried as an American than a Mexican about the next U.S. government. Slim, a telecoms tycoon who spent several years as the world’s richest man, says he has never met Trump, but the two businessmen traded barbs during a bruising U.S. election campaign in which Trump vowed to build a wall along the southern border to keep out Mexican immigrants

But Slim added that Trump’s potential success would also be Mexico’s, arguing that a 4 percent U.S. growth rate and the creation of millions of jobs would benefit Latin America’s second biggest economy.

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Mexico to Trump: Those Carrier jobs are not the story

1/12/16 The Washington Post

download (2).jpgMEXICO CITY — For the Mexican government, few goals seem more important than winning new foreign investment. The competition among Mexican states to bring the next automobile plant or aerospace factory is intense and produces big-time incentives for foreign companies that make the move. But the announcement that Carrier, the Indiana-based company that makes air conditioners and heaters, would be keeping some 1,000 jobs in its Indianapolis plant instead of moving them to Monterrey, Mexico, was greeted by Mexican officials with little more than a shrug.

“I see this as something that should occupy us, not worry us,” said Hector Castillo Olivares, the mayor of Santa Catarina, the Monterrey suburb where the new Carrier plant is being built. “The United States is not the world,” the state’s governor, Jaime “El Bronco” Rodriguez, told a radio station. “We don’t depend on them, nor do we have to depend on them.”

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VIDEO | What Does the World Expect of President-elect Trump: Mexico

Director Duncan Wood discusses what Mexico expects of President-elect Donald Trump.

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Canada manufacturers put U.S. ahead of Mexico if Trump ends NAFTA

11/17/16 Reuters

TrudeauCanadian manufacturers want their access to the U.S. market protected at all costs if Canada renegotiates the NAFTA trade deal with U.S. President-elect Donald Trump, even if that means losing the trilateral partnership with Mexico.

Amid fears a Trump administration will tear up the North American Free Trade Agreement, the Canadian Manufacturers and Exporters group is lobbying Canada’s Liberal government to prioritize the U.S.-Canada trade relationship, saying a bilateral side deal with Mexico could be worked out separately.

“We spoke to our members, and based on trade stats alone, the priority has to be the U.S. market,” said Mathew Wilson, senior vice president at the CME, which represents some 10,000 manufacturers.

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Mexico, U.S. chamber of commerce vow to defend joint trade ties

11/17/16 Reuters

download-5Mexico’s government and the U.S. Chamber of Commerce on Wednesday vowed to step up efforts to defend bilateral trade worth more than $500 billion a year, attempting to quell concerns about the impact of a Donald Trump presidency.

U.S. President-elect Trump sparked fears of economic crisis in Mexico by threatening to ditch the North American Free Trade Agreement (NAFTA), which comprises the United States, Mexico and Canada, if he cannot renegotiate it in his country’s favor.

Mounting a robust defense of NAFTA, Carlos Sada, Mexico’s ambassador to Washington, said since the agreement came into effect in 1994, Mexico has not maintained the requisite degree of engagement with relevant players in the United States. In an address to executives at an event held by the U.S. Chamber of Commerce in Mexico City, Sada said Mexico needs to exploit its network of U.S. consulates to make the case for NAFTA.

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With Trump Victory, Mexico’s Worst Fears are Realized

11/9/2016 The Washington Post

In America’s modern history, few U.S. presidents have come to power as openly hostile to their southern neighbor as Donald Trump. His opening campaign salvos — describing Mexican immigrants as criminals or rapists — seemed almost tame by the time he clinched victory, after so many threats to cut off jobs going to Mexico, deport millions of unauthorized immigrants and build a wall on the border.

His victory stunned, saddened and worried Mexicans, forcing the country’s highest government officials Wednesday morning to call for calm and pledge to work with the United States. The wave of national anxiety sent financial markets here into turmoil as a new, uncertain era in relations with the United States began.

[…] “I think there will be some tinkering with the U.S. approach to international trade, but I don’t see wholesale reversal of U.S. trade policies. There’s too much at stake here, and any change on that scale would take years and years,” said Duncan Wood, director of the Mexico Institute at the Woodrow Wilson International Center for Scholars in Washington. “I think we’re looking at the beginnings of a conversation about where we want to be as a country in our international trade relationships. So we’re moving away from a model of free trade and back to a paradigm of managed trade.” […]

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A Victim of Trump (and Fundamentals), the Peso Falls

11/14/2016 Forbes.com, Mexico Institute Blog

By Viridiana Rios, Global Fellow, Mexico Institute

pesoI write today as a middle class Mexican whose savings lost 10 percent of their value when American voters elected a leader who pledged to renegotiate NAFTA and tax us to pay for a wall. As a result of the election and other factors, the Mexican peso has overtaken the Argentine peso and the South African Rand to become the emerging markets 2016 worst performer.

The Mexican Peso was a barometer for the presidential campaign. It lost 10 percent of its value when Clinton lost, 1.9 percent in the week after the FBI reignited Clinton’s email controversy, and hit its historical low in the days following the election as speculation turned to the potential impact of Trump’s first months in office. The peso spiked 1.3 percent in less than an hour during the first presidential debate, and when Trump’s lewd conversation about women broke, it gained 2.2 percent.

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