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.

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