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The Benefits of the New NAFTA - Goodbye Uncertainty, Hello Better Paid Jobs

Wednesday, 29th of August 2018

Luis Videgaray, Ildefonso Guajardo and Jesús Seade agreed that the agreement reached with the United States was a win-win.

Chancellor Luis Videgaray; the secretary of Economy, Ildefonso Guajardo; and the chief negotiator of the team of President-elect Andrés Manuel López Obrador, Jesús Seade agreed that the new NAFTA agreement with the United States has ended uncertainty and has created a scenario for the creation of better-paying jobs, desirable conditions for small and medium enterprises and for economic growth.

In an interview for Despierta with Loret , the head of the Ministry of Foreign Affairs admitted that although there were times when the departure of the United States from the North American Free Trade Agreement (NAFTA) could have been real, today the economic scenario with the American Union is on good terms.

The bilateral trade agreement with the United States is “good news” for Mexico despite uncertainty over whether Canada will continue in NAFTA that the three countries have maintained since 1994, the Mexican foreign minister said Monday.

What Mexicans already know is that in the worst case scenario there will be a free trade agreement between Mexico and the United States, regardless of what happens with the negotiation with Canada.

Ildefonso Guajardo assured Mexicans that the new NAFTA will bring better paid jobs and growth as the threat to Mexican agricultural exports worth billions of dollars has dissipated. That alone means high-paying jobs and the participation of small and medium enterprises, which the first NAFTA did not have.

In any event, Mexico and Canada already have an agreement in place which is the TPP (Transpacific). In addition the process of incorporating Ottawa within the Pacific Alliance is under way.

Stock markets worldwide rose to a six-month high on Tuesday with investors expressing optimism the deal could signal a change in the Trump administration’s provocative stance on global trade.

Source: Mexico News Network; http://www.mexiconewsnetwork.com/en/uncategorized-en/benefits-new-nafta-hello-better-paid-jobs/ (01/10/18)

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