On Thursday, US President Donald Trump announced that Commerce Secretary Wilbur Ross will be leading the talks on renegotiating the North American Free Trade Agreement (NAFTA). Trump called NAFTA a "catastrophe."
Mexico’s Economy Secretary Ildefonso Guajardo said this week that his country was planning to extend the current trade agreement with the European Union amid the uncertainty around NAFTA.
According to Guajardo, Mexico has launched free trade negotiations with Australia, Brunei, Malaysia, New Zealand, Singapore and Vietnam following the US withdrawal from the Trans-Pacific Partnership (TPP) free trade treaty.
On January 23, the US president signed an executive order withdrawing the United States from the TPP free trade treaty, and promised to renegotiate NAFTA.
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