Mexico Warns on NAFTA Sourcing: 'Don't Shoot Ourselves in the Foot'
Mexico Warns on NAFTA Sourcing: 'Don't Shoot Ourselves in the Foot'
At AS/COA's conference, Mexico's economy minister warned of "[shooting] ourselves in the foot" if NAFTA rules are tweaked too much, driving investment elsewhere.
Mexico's economy minister on Tuesday sounded a note of caution to the three countries involved in NAFTA trade negotiations, saying they should be careful not to adjust rules on local sourcing of parts too much, or risk driving business elsewhere.
Speaking at an event in Mexico City with Canada's Minster of Foreign Affairs Chrystia Freeland, Mexican Economy Minister Ildefonso Guajardo said Mexico was not opposed to revising so-called rules of origin - which stipulate that products must meet minimum NAFTA-wide content requirements to be tariff-free.
But he warned that Mexico, the United States and Canada could "shoot ourselves in the foot" if they tweak rules too much and drive investment elsewhere…