Trade Deal between US and Mexico to Take a New Turn
August 28 , 2018
The 2.5 decades old North American Free Trade Agreement might undergo complete renegotiations between Mexico and the US. Both the countries have reached the common ground on crucial trade terms. The pact, however, also involves Canada which is yet to join talks. The upshot is thus still in doubts. Trump was unhappy with the previous trade agreement as he blamed it for the dip in manufacturing jobs in the US.
US President earlier threatened to withdraw from Nafta and now has triggered talks which are likely to last for a year. On Monday, after the news of the treaty reached the market, the Mexican peso grew in strength and shares of the US rose.