Daily Traders Edge

Mexico ready to quit NAFTA if US talks fail

January 24
17:45 2017

Mexico's economy minister Ildefonso Guajardo Villareal said his delegation would "absolutely" walk away from trade negotiations with the US if President Trump's border wall and remittances became problematicMexico drew red lines on Tuesday ahead of negotiations with US President Donald Trump's administration, warning it could quit the talks and a major trade pact if the discussions hit a wall. During the US election campaign, Trump vowed to make Mexico pay for a massive border wall and threatened to finance it by tapping into the $25 billion in remittances that Mexican migrants sent back home last year. "There are very clear red lines that must be drawn from the start," Economy Minister Ildefonso Guajardo told the Televisa network as he prepares to meet with US officials in Washington on Wednesday and Thursday.

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