Trump claims new trade pact will ensure Mexico pays for border wall

12/13/2018 – Politico

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Jacquelyn Martin/AP photo

By Caitlin Oprysko

President Donald Trump has begun to tie his seemingly abandoned campaign promise that Mexico will pay for the construction of a wall on the U.S. border to the newly negotiated trade pact that would replace NAFTA.

In a Thursday tweet, Trump, using dubious logic, declared that he’d made good on his vow by way of coming through on another campaign pledge to renegotiate NAFTA with the leaders of Canada and Mexico.

“I often stated, ‘One way or the other, Mexico is going to pay for the Wall.’ This has never changed,” Trump wrote in a tweet. “Our new deal with Mexico (and Canada), the USMCA, is so much better than the old, very costly & anti-USA NAFTA deal, that just by the money we save, MEXICO IS PAYING FOR THE WALL!”

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Mexican auto exports, production dip in November

12/07/2018 – Reuters

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REUTERS/Edgard Garrido

MEXICO CITY (Reuters) – Mexican automobile output and exports fell slightly in November compared with the same month last year, official data showed on Thursday.

According to national statistics agency INEGI and Mexican automotive industry association AMIA, output was down by 1.26 percent in November from a year earlier.

However, the two groups published different figures on the decline in exports because some data from Japanese carmaker Toyota Motor Corp (7203.T) was not included in INEGI’s calculation, AMIA and INEGI said.

Trump’s new NAFTA has hard fight in Congress while steel tariffs remain

12/06/2018 – Politico

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Pablo Martinez Monsivais/AP Photo

By Sabrina Rodriguez

President Donald Trump just celebrated the signing of a new North American trade pact with Canada and Mexico, but he faces a huge roadblock in Congressover U.S. tariffs that are still in place on steel and aluminum imports from the two U.S. neighbors.

The two nations are still working to negotiate a deal with the Trump administration so that they can be exempt from the duties. In the meantime, American industries will continue to be hurt by Mexico and Canada’s retaliatory duties on more than $15 billion worth of U.S. goods.

“If you’re trying to whip votes, you’d take advantage of the opportunity to lift that instead of leaving an irritant on the table,” a former U.S. Trade Representative official told POLITICO. “It’s going to make [administration officials’] lives harder to get Congress on board as constituents are complaining a lot” about the harm of the ongoing tariffs.

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Mnuchin urges Congress to pass Trump’s new NAFTA without changes

12/04/2018 – The Hill

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Copyrights: World Economic Forum

Treasury Secretary Steven Mnuchin on Tuesday dismissed bipartisan criticism of the Trump administration’s renegotiated North American trade pact and urged Congress to pass the deal without changes.

Mnuchin told Fox Business Network that President Trump expects Congress to approve an updated version of the North American Free Trade Agreement (NAFTA) as written and would terminate the original deal if lawmakers refuse.

“This is a great deal and there’s people who will want to make this a political issue,” Mnuchin said Tuesday. “People who think they can micromanage the deal for political reasons because they don’t want to support the president, you know that’s a bad strategy.”

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Mexico’s Lopez Obrador Promises Radical Change in First Speech

12/2/2018 – New York Times

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Source: Reuters

MEXICO CITY — Veteran leftist Andres Manuel Lopez Obrador was sworn in as Mexican president on Saturday, promising a radical change of course in a country struggling with gang violence, chronic poverty and corruption on the doorstep of the United States.

The first leftist to take office in Mexico in a generation moved to reassure business after markets crashed last month on worries about his policies. He promised investments would be safe and that he would respect central bank independence.

Following are some reactions to his inaugural speech:

ALFONSO ESPARZA, ANALYST AT OANDA IN TORONTO

“There were no great surprises in the speech. It reiterates criticism of the neo-liberal model with the example of the energy reform, and puts forward increasing the number of refineries. Lots of problems were raised but not much time was left to get into solutions.”

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Tariff tensions shadow US, Canada, Mexico trade pact signing

11/30/2018 – Washington Post

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Photo: Martin Mejia/Associated Press

BUENOS AIRES, Argentina — President Donald Trump teamed up with the leaders of Canada and Mexico on Friday to sign a revised North American trade pact, a deal that fulfills a key political pledge by the American president but faces an uncertain future in the U.S. Congress. The celebratory moment was dimmed by ongoing differences over Trump’s steel and aluminum tariffs, as well as plans for massive layoffs in the U.S. and Canada by General Motors.

The U.S.-Mexico-Canada Agreement is meant to replace the 24-year-old North American Free Trade Agreement, which Trump has long denigrated as a “disaster.”

Trump appeared with Canadian Prime Minister Justin Trudeau and outgoing Mexican President Enrique Pena Nieto at the Group of 20 nations summit in Buenos Aires for the formal signing ceremony. Each country’s legislature must also approve the agreement.

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The Latest: Trump Praises Outgoing Mexican President

11/30/2018 – New York Times

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Photo by rawpixel.com on Pexels.com

BUENOS AIRES, Argentina — The Latest on President Donald Trump at the Group of 20 summit (all times local):

10:50 a.m.

President Donald Trump is praising Mexico’s outgoing President Enrique Pena Nieto, whose government has been a target of Trump’s ire over trade, migration and Trump’s proposed wall on the U.S. southern border.

Trump has railed about factory jobs lost to Mexico and the U.S. trade deficit with its southern neighbor — two hot-button issues that vexed relations with Nieto.

But on Friday, Trump lauded Pena Nieto as a “special man.”

Trump congratulated Pena Nieto on ending his presidency by signing the new agreement governing trade relations among the United States, Mexico and Canada.

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