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Top Mexican Trade Officials in US for Talks

Mexican Foreign Minister Luis Videgaray and Economy Minister Ildefonso Guajardo are meeting with top officials in the Trump administration on trade and other matters, with sessions between Videgaray and Secretary of State Rex Tillerson and National Security Adviser H.R. McMaster on tap.

Plus, Videgaray and Guajardo will meet with Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer. The meetings come just ahead of the second round of NAFTA 2.0 talks set for September 1-5 in Mexico.

Meanwhile, Guajardo told lawmakers in Mexico City that trade between U.S. and Mexico would continue without NAFTA. “No one sits down to trade talks without a plan B,” Guajardo said. “This is not going to be easy,” Guajardo told senators in Mexico City.

“The start of the talks is like a roller coaster.” He said Mexico would not accept a NAFTA 2.0 deal that comes at too high a cost, and that Mexico can pass laws to reassure foreign investors that they are protected even without NAFTA. Some Mexican products would face high tariffs without NAFTA. Responding to the comments, Canadian Prime Minister Justin Trudeau said his government would continue to work “seriously” to improve the trade agreement.

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