Mexico ratifies US-Mexico-Canada agreement
Mexico has ratified the US-Mexico-Canada agreement. This makes it the first country to give the new North American trade deal final approval despite recent tensions with the US. The Mexican government called the deal’s passage a clear message in favor of an open economy and deepening economic integration in the region.
President Andres Manuel Lopez Obrador claimed the deal would bring in more foreign investment and jobs in Mexico, and access to the US market. The deal aims to replace the North American Free Trade Agreement (NAFTA), which helped turn Mexico into an exporting powerhouse over the past 25 years. It now falls to Canada and the US to ratify the deal.
The three countries signed the agreement on 30th November after a year of negotiations triggered by US President Donald Trump’s insistence on replacing NAFTA.