Mexico's EU trade deal lands a punch on Trump

[DonViejo]

Source: Politico-Europe



Accord with Brussels comes as Washington squeezes Latin American country in NAFTA talks.

By HANS VON DER BURCHARD AND CHRISTIAN OLIVER 4/21/18, 10:40 PM CET Updated 4/22/18, 11:30 AM CET

Mexico delivered a defiant political riposte to U.S. President Donald Trump on Saturday by agreeing a trade deal with the EU.

Trump’s push to renegotiate the North American Free Trade Agreement helped catalyze Mexico’s talks with Brussels over the past year, as the Latin American country sought to diversify away from dependence on an increasingly hostile U.S. Diplomats said that German Chancellor Angela Merkel and Mexican President Enrique Peña Nieto had given instructions that negotiators should attempt to seal an agreement before Sunday’s opening ceremony of the Hannover Messe, a major trade fair in Germany, where both will be present. Mexico is the partner country of the event this year.

The deal is a major upgrade of an original accord struck in 2000, which covered basic goods and machinery. The new pact will branch out into sectors such as finance, e-commerce and agriculture.

Peña Nieto said the agreement “confirms us as priority partners of one of the most important economic blocs in the world.”

Read more: https://www.politico.eu/article/mexicos-eu-trade-deal-lands-a-punch-on-trump/

[dhill926]

1. good for them....

our country can't be trusted at the present time....

[SWBTATTReg]

2. RUMP: 'I alone, can fix it all!!!'

If former US Nafta trade partners go on their own and make deals, why not? RUMP screwed the pooch as they say and every single former trade partner is walking away.

US Farmers got screwed when RUMP mouthed off and now sorghum is much more expensive in the Chinese market.

Many items manufactured in full or partial (for inclusion in the assembly of cars, etc.) in Mexico (components and the like) will go to the EU instead of the US and thus prices across the board on many assembled items will go up in price if available.

Oil will now face challenges despite US increases in oil drilling. When Mexico and Canada get tired of dealing w/ motormouth or tweedy bird, prices will be under pressure. Trade will probably slow down due to tensions.

And what's funny about it is that RUMP caused it, all of it. No new jobs will really be created because the labor market is already so tight, so who will build the components that Mexico will now ship to the EU? Who will build the components or use the sorghum that our Chinese customers formerly used?

Great...just watch, before you know it, some labor markets may face pressure in the US due to components no longer available. Oil prices have already gone up thanks to RUMP's help. With Oil prices up, guess what? Every thing relying on transportation or oil derivatives as part of the manufacturing process will go up.

Stock/equity real estate markets are already at highs, so no help here to the economy.

[dalton99a]

3. Kick.

[Yavin4]

4. The world moves on without America and the UK

This is what progress looks like. Mexico's and the EU's economies will grow and benefit from this relationship. Meanwhile, old bigots in America and the UK want to live in the past.

[Cold War Spook]

5. Great,

now Mexico will have to pay for the wall to stop illegal immigration of US citizens.

[dreamland]

6. Lol.