Official: Mexico could leave NAFTA if not satisfied

Associated Press ^ | Jan 24, 2017 12:06 PM EST

[Olog-hai]

Mexico’s Economy Secretary says his country could leave the North American Free Trade Agreement if talks on re-negotiating it are unsatisfactory.

Ildefonso Guajardo tells the Televisa network that his country will be in a weak position at talks with U.S. President Donald Trump unless Mexico makes it clear it won't accept just anything in order to preserve the three-nation trade pact. …

[justa-hairyape]

They are saying, they won’t compromise and therefore no deal. Only want a deal if they benefit, greatly. Or grande as they say down there.

[Redwood71]

Please check what I showed. The large money is coming fom the oil sales they are selling to us and I didn’t mention it. In 2016, we averaged a purchase of 664,000 barrels a month from them at $49 a barrel which comes to $32,536,000 just for the oil. The rest of the petroleum products the United States imports 68,000 bbl/d of products, most of which was residual fuel oil (41%), pentanes plus (24%), and naphtha (15%). I do not have a current cost on these products as the info I got was for oil basically. But these are a few of the products besides just oil sans 20% not identified.

But when the whistle blows, our purchases contribute a good chunk of change to their failing economy. The Mexican currency plunged to a record low of about 19.90 to the dollar just last week and has hovered near 20 to the dollar for days. Exchange houses are already posting signs offering a 20-peso exchange rate. Despite official declarations downplaying the devaluation, some analysts are warning that things could get worse and assailing what they call government inaction.

There’s a problem down there so messing with incoming cash would not be a wise move.

red

[Georgia Girl 2]

Buh bye!