Posted on 01/24/2017 10:11:30 AM PST by Olog-hai
Mexicos 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.
(Excerpt) Read more at hosted.ap.org ...
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.
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
Buh bye!
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