Mexico's economy minister suggests "it wouldn't be an absolute crisis" if talks completely break down.Mexico has stepped up its resistance to President Trump's tariff threats as it prepares to enter talks over the North American Free Trade Agreement.All sides appear willing to take a seat at the negotiation table, but Mexico's economic minister, Ildefonso Guajardo, suggests his country will simply walk away if the US insists on implementing tariffs.
"The moment that they say, 'We're going to put a 20 percent tariff on cars,' I
get up from the table," he told Bloomberg in a recent interview.
Analysts will be closely watching to see if Trump's administration will focus on tariffs, or if the threat may simply serve as a negotiation tactic if US officials push for other changes to the trade agreement's extensive fine print.
Guajardo further claims that "it wouldn't be an absolute crisis" for Mexico if it refuses to renegotiate NAFTA with the US and Canada, apparently referencing a scenario in which the agreement is repealed entirely rather than reworked.
"I think there is a way to find a very good agreement that will be a win-win for the three countries," he added.
The negotiates are expected to kick off in the second half of the year.