Mexico prefers bridges, will seek trade diversification

Days after Donald Trump was elected the 45th POTUS on November 8, 2016, Mexican President Enrique Pena Nieto started to openly counter Trump’s projects notably the renegotiation of the North American Free Trade Agreement (NAFTA) and the building of a wall on the US-Mexico border.

Confident in his ability “to achieve a prosperous, inclusive Mexico,” Nieto had previously taken his country’s active participation in APEC (Asia-Pacific Economic Cooperation) – of which the United States is a member – as proof of its commitment to the multilateral trading system. Nieto advocated the Asia-Pacific economies should work at further facilitating trade through the conclusion of the Doha Round within the framework of the World Trade Organization (WTO) and at creating conditions to achieve high sustainable, inclusive economic growth.

As a consequence of Trump’s first moves as President including ordering an “impassable physical barrier” to be built along the US border, Mexico will prioritize developing more advanced trade partnerships with its neighbors, the European Union (EU), China and Australia. “Neither aggressive nor submissive,” Nieto said, Mexico will diversify its trade. US goods and services trade with Mexico totaled an estimated 583.6 billion dollars in 2015.