Americas: Economic overview
Mexico is taking steps to minimise damage in case negotiations falter on the North American Free Trade Agreement (NAFTA).
The United States, Canada and Mexico will find it difficult to renegotiate the trade deal under its existing terms as President Donald Trump insists on bringing the trade deficit the US has with Mexico down to zero. Trump claims recent requests made by Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto to initiate negotiations on the deal prevented him from killing the 23-year-old pact altogether. Failure to renegotiate could see Mexico paying higher taxes on gas and LNG imports from the US.