Mexican economy minister says there is still no US presidential decree on tariffs
- Says Mexico should be excluded from potential US steel tariffs
- Says we should not react to tweets, we should react to concrete policy decisions
- There has been less advance on chapter 19 in the nafta talks
- When the US negotiator for auto rules of origin returned to the US last week, it was because the US government had started talks with industry
- Says referring to trade wars, says in a war, "everyone loses"
- Does not rule out a Mexico response on US tariffs, but it does not necessarily benefit everyone to escalate matters
- Mexican proposal on auto content was not put on the table because u.s. negotiator returned to the US
- Says, when asked about auto content in nafta talks, the outcome of a trade negotiation cannot just depend on the interests of one sector
- Uncertainty over trade is not helping any of the participants in the talks
- The sooner we get a result, the better, but political calendars should not determine this
Headlines via Reuters
Downbeat comments from the minister, should be a negative for MXN (and CAD you'd think)