Mexico to be exempted from aluminum and steel tariffs

Mexico's Minister of Economy, Ildefonso Guajardo confirmed the decision of the United States to exempt Mexico and Canada from the steel and aluminum tariffs announced by the Donal Trump administration, claiming it would have damaged the U.S. industry otherwise.

“The steel industry of North America is deeply intertwined. It would be to the detriment of the U.S. economy not to have exempted Mexico and Canada,” he said.

After his participation in the 81st Banking Convention, the Minister said Mexico is reviewing the U.S. decree yet they have been clarified the terms of the measure are indefinite.

During his conference at the convention, Guajardo also said he sees a possibility in concluding the talks of the North American Free Trade Agreement (NAFTA) before the 2018 General Election.

He stated that the NAFTA is Mexico's main trade agreement and believes there is a 60% probability of renegotiating it successfully.

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