{"id":105085,"date":"2017-10-12T03:06:32","date_gmt":"2017-10-12T01:06:32","guid":{"rendered":"http:\/\/www.arabtelegraph.com\/?p=105085"},"modified":"2017-10-12T03:07:09","modified_gmt":"2017-10-12T01:07:09","slug":"u-s-mexican-business-leaders-say-no-nafta-better-than-bad-deal","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=105085","title":{"rendered":"U.S., Mexican business leaders say no NAFTA better than bad deal"},"content":{"rendered":"<p dir=\"ltr\"><strong>\u00a0U.S. and Mexican CEOs gathered in Mexico City on Wednesday said it would be better to live with no North American Free Trade Agreement than be saddled with a bad deal, as industry braces for the end of a treaty that drives $1 trillion (756.37 billion pounds) in annual trade.<\/strong><\/p>\n<p dir=\"ltr\" data-reactid=\"43\">The CEO meeting ran in parallel to talks near Washington aimed at refreshing the 1994 agreement, with Mexico, Canada and businesses united in opposition to a number of radical U.S. proposals they say would damage the North American economy.<\/p>\n<div class=\"DPSlot_container_2dHIN DPSlot_inline_1oeo6\" dir=\"ltr\">\u00a0U.S. President Donald Trump said on Wednesday he would be open to bilateral trade pacts with Mexico or Canada if a deal cannot be reached to substantially revise NAFTA.<\/div>\n<p dir=\"ltr\">\u201cWe are all much worse off with a bad agreement than with no agreement,\u201d said Guillermo Vogel, who co-chaired the Mexico City event and is a vice president at Tenaris, a steel company.<\/p>\n<p dir=\"ltr\" data-reactid=\"47\">The meeting, part of a bilateral \u201cCEO dialogue\u201d that meets a couple of times each year, included a closed-door discussion on the NAFTA negotiations addressed by Foreign Minister Luis Videgaray and Economy Minister Idelfonso Guajardo, who are in charge of the negotiations for Mexico.<\/p>\n<p dir=\"ltr\" data-reactid=\"48\"><strong>On the U.S. side the event was co-chaired by Fedex\u2019s CEO Michael Ducker and U.S. Chamber of Commerce President Thomas Donohue.<\/strong><\/p>\n<p dir=\"ltr\">The event\u2019s organizers declined to say who else attended. American Express, AT&amp;T, GM and Delta were listed on publicity material for an event hosted by the U.S. Chamber of Commerce in Mexico on Tuesday, where Donohue warned that several U.S. proposals in the NAFTA talks were \u201cpoison pills\u201d that risked dooming the agreement.<\/p>\n<p dir=\"ltr\" data-reactid=\"56\">The process of renegotiating NAFTA has turned increasingly sour. Mexico accuses Trump of spoiling for a \u201cprotectionist war\u201d with proposals aimed at balancing trade.<\/p>\n<p dir=\"ltr\">Those proposals include removing dispute resolution mechanisms, limiting trade in fresh produce and introducing minimum quotas for U.S. parts in autos.<\/p>\n<div class=\"Slideshow_inline-container_3FQ3h\" dir=\"ltr\"><strong>Vogel said the content rules for auto parts were still negotiable, despite shock in Mexico at suggestions half of all parts in cars should be made in the United States. U.S. Commerce Secretary Wilbur Ross said on Wednesday he expected an agreement would be reached on that issue.<\/strong><\/div>\n<p dir=\"ltr\" data-reactid=\"70\">On Tuesday, Donohue also singled out a \u201csunset clause\u201d that would automatically terminate NAFTA every five years unless there were fresh negotiations.<\/p>\n<p dir=\"ltr\" data-reactid=\"71\">\u201cClearly, a clause that cancels the agreement every five years totally defangs it,\u201d Vogel said. \u201cStarting to play with a non-market economy would be terrible for us.\u201d<\/p>\n<p dir=\"ltr\" data-reactid=\"72\">Vogel said U.S. and Mexican businesses still believed NAFTA talks would produce a good deal and said they would continue to lobby their governments and lawmakers to negotiate a good deal.<\/p>\n<p dir=\"ltr\">\u201cWith an agreement, in 10 years I see a strong region that can face Asia or China, without an agreement I see a weaker region in the medium and long term.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0U.S. and Mexican CEOs gathered in Mexico City on Wednesday said it would be better to live with no North American Free Trade Agreement than be saddled with a bad deal, as industry braces for the end of a treaty that drives $1 trillion (756.37 billion pounds) in annual trade. The CEO meeting ran in &hellip;<\/p>\n","protected":false},"author":3,"featured_media":105090,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-105085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-te-public"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>U.S., Mexican business leaders say no NAFTA better than bad deal - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=105085\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S., Mexican business leaders say no NAFTA better than bad deal - Arab Telegraph\" \/>\n<meta property=\"og:description\" content=\"\u00a0U.S. and Mexican CEOs gathered in Mexico City on Wednesday said it would be better to live with no North American Free Trade Agreement than be saddled with a bad deal, as industry braces for the end of a treaty that drives $1 trillion (756.37 billion pounds) in annual trade. 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