Mexico says NAFTA should be 'modernized' in wake of Trump election
Mexico says it is ready to "modernize" a trade deal with the United States if the president-elect, Donald Trump, follows through on radical protectionist policies.
During his election campaign, Trump vowed to either renegotiate or scrap the 1994 three-nation North American Free Trade Agreement, commonly known as NAFTA.
The remarks raised concerns in Mexico and Canada, whose economies rely heavily on exports to the United States.
"We think it is an opportunity to think if we should modernize it, not renegotiate it, but to modernize it," said Mexico's Foreign Minister Claudia Ruiz Massieu on Thursday.
However, she said the government was not ready to start renegotiating the deal from scratch.
Massieu said NAFTA would be discussed with Trump's transition team in the coming months.
Meanwhile, Canadian Prime Minister Justin Trudeau pledged to work closely with the new US president on the trade deal.
"I think it's important that we be open to talking about trade deals," Trudeau said on Thursday.
"If the Americans want to talk about NAFTA, I'm more than happy to talk about it," he said.
NAFTA became a source of friction with America's neighbors during the US election campaign, when Trump called it the worst trade deal the United States had ever signed.
Trump said NAFTA had led to the outsourcing of thousands of jobs from the United States to Mexico and China.
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