World News

Mexico Bends to Trump’s Demands

Mexico – The trade agreement reached on Monday with the US government dodges the most feared scenario for the Latin American country.

The rupture with its main commercial partner – and the demands raised by Donald Trump in exchange for assignments in the new scales that will govern in a key sector -the automotive industry- and in dispute resolution mechanisms, according to half a dozen specialists.

The non-agreement was not a real option for Mexico, for its economy that is highly dependent on the foreign sector.

“The fundamental thing is that the rupture is avoided, and also that there is no automatic termination clause or seasonality requirements in agriculture, despite the changes in the automotive industry,” says Luz María de la Mora, former head of International Trade Negotiations Latin American country. 

An appreciation in which Luis de la Calle -one of the architects of the FTA currently in force- and Ignacio Martínez -coordinator of the Analysis Laboratory in Commerce, Economy and Business of the UNAM- agree. 

It is, as stated in the last report for clients of the largest bank in Mexico, BBVA Bancomer, “the best possible agreement under the current circumstances”. 

“The game was to limit damages and, considering that, it has not been bad,” adds the entity’s chief economist, Carlos Serrano.

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David Paterson

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