Mexico’s economy minister says odds of a Nafta deal ‘in principle’ at 80%
Mexico’s economy minister, Ildefonso Guajardo, said in a TV interview on Monday that the likelihood of signing a renegotiated pact ‘in principle’ on the North American Free Trade Agreement is about 80%. Guajardo, however, said he didn’t expect a Nafta deal would be struck this week, but would likely be signed around the first week of May. He speculated that the U.S. and would be inclined to complete a deal ahead of coming midterm elections. Nafta negotiators are currently meeting in Washington, D.C., for their eighth round of talks. Last week, President Donald Trump said he was looking for a deal in principle at the Summit of the Americas in Lima, Peru, next week. The Mexican peso USDMXN, -0.3324% which started Monday’s session weaker, climbed 0.2% higher versus the dollar, with one buck fetching 18.2450 pesos. The iShares MSCI Mexico ETF EWW, +1.29% was up 0.5% in response.
