From the Desk of Marco Lopez
NAFTA talks have been delayed as we all know – but the news surrounding the renegotiations certainly hasn’t slowed down.
Though our neighbors in Mexico and Canada are bracing themselves for the worst outcome, they have shown a commitment to NAFTA and responsibility to their hardworking citizens that has yet to be seen from the U.S.
This past week, Mexico has been working to find room for negotiation on some of the U.S.’s harsh proposals. Last Tuesday, Mexican Economy Minister Ildefonso Guajardo said Mexico would have no problem with provisions to deter currency manipulation so long as it doesn’t affect Mexico’s conduct of its monetary policy. The officials I’ve spoken to, in an attempt to bring professional negotiating tactics to the negotiating table, are working on defining their positions before the next round for the sake of Mexico and the entire North American economy.
Because the auto industry has become a center of NAFTA dispute, I was happy to see more news on how the Trump administration’s idea on cars and NAFTA is misguided and could potentially backfire. Carmakers have started speaking up for themselves this past week when it comes to NAFTA. Rather than feeling helped by the U.S. team’s positions on auto, the industry has experienced widespread anxiety. Carmakers say they would rather NAFTA continue as is if the cost of modernization is a ripped up deal.
NAFTA coverage recently has expressed a similar, but important message – ripping up NAFTA won’t solve the Trump administration’s issues with the deal. Before entering the next round of talks, this message from our neighbors, experts, and industry leaders alike should guide the U.S. team in revising its rhetoric and negotiating techniques out of fairness to the American worker. After all, it’s their jobs that hang in the balance.
As always, feel free to reach out to me to Marco with thoughts or questions.