NAFTA needs to be modernized, says Mexican ministerStaff Writer | March 3, 2017
Mexico is prepared to negotiate changes to the North American Free Trade Agreement to modernize the 23-year-old open trade pact grouping the U.S., Canada and Mexico, Economy Minister Ildefonso Guajardo said.
Trade Mexico will not accept tariffs
However, Guajardo said Mexico will not accept tariffs. U.S. President Donald Trump has called for new border taxes on Mexican-made goods.
"It makes no sense to introduce an agreement with border restrictions or tariffs," he said.
Meanwhile, the peso rallied on Friday to a nearly four-month high after the new U.S. commerce secretary offered a softer tone on trade talks. ■