Mexico Will Not Accept Tariffs, Quotas in Renegotiated NAFTA

Mexican Foreign Minister Luis Videgaray said today that the country will not accept taxes or quotas in a renegotiated NAFTA, Reuters reports.

Videgaray's comments come a day after President Donald Trump prompted a 90-day countdown to negotiations regarding the trade agreement.

U.S. Trade Representative Robert Lighthizer wrote in a draft letter to lawmakers in March and noted that among his objectives was the ability to impose tariffs if Mexican and Canadian imports pose a severe injury threat to U.S. industry. 

"Mexico expects a constructive negotiation that allows more cooperation, economic integration, and boosts regional competitiveness," Mexico's economy ministry said in the statement on Thursday.

Over on Real Money Jim Cramer give advice to investors looking at how to play the Trump Trade. Get his insights or analysis with a free trial subscription to Real Money.

If you liked this article you might like

Chipotle Encouraged by Queso's Debut

These Powerful Corporate Executives Could Make a Run at the Presidency in 2020

Vivendi Faces Possible 300 Million Euro Fine From Italy Over TIM Deal

Total Reaches Agreement With Chevron for Gulf of Mexico Exploration

Gold Is Great Again Thanks to North Korea's Kim Jong-Un