GM, Ford executives to meet with Mexico economy minister in Detroit
Mexico’s economy minister will travel to Detroit on Friday to meet with executives from Ford Motor Co. and General Motors as Mexico seeks to deter U.S. President Donald Trump from imposing a border tax on Mexican-made goods.
Economy Minister Ildefonso Guajardo will also meet with auto parts makers that have operations in Detroit and Mexico, the ministry said in a statement. He will discuss the state of U.S.-Mexico trade and the future of the North American Free Trade Agreement (NAFTA), the ministry said.
Trump has vowed to exit NAFTA, the 1994 accord that also includes Canada, if he cannot get better terms for the U.S.
On Tuesday, Foreign Minister Luis Videgaray said Mexico would only stay in NAFTA if it suited the nation and he rejected the imposition of any tariffs or quotas. The countries have yet to start formal negotiations.
“Thanks to NAFTA, Mexico and Michigan have built a dynamic trade relationship,” the ministry said, noting that Mexico was Michigan’s second biggest trade partner with more than $12 billion in exports to Mexico last year.