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Magna International Inc
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Close 2017-08-30 C$ 58.81
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Globe says Canfor, others hear Mexico warn on Trump

2017-08-31 07:03 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Thursday, Aug. 31, edition that Foreign Minister Luis Videgaray says Mexico will walk away from the renegotiation of the North American free-trade agreement if President Donald Trump follows through on his threat to trigger a withdrawal from the pact. The Globe's Adrian Morrow writes that Mr. Videgaray delivered this stark message Wednesday in Washington. He flew to the U.S. capital to caution the Trump administration that Mr. Trump has to back off his charged rhetoric if he hopes to reach a deal to overhaul NAFTA. The escalating tension comes just two days before the second round of NAFTA talks opens in Mexico City and follows a week-long barrage of anti-NAFTA attacks from Mr. Trump. He has publicly threatened to start the process of pulling the United States out of the agreement to gain leverage over his negotiating partners. Under NAFTA's Article 2205, any of the three countries can quit the deal after six months' notice. Asked if Mexico would stay at the negotiating table should Mr. Trump trigger 2205, Mr. Videgaray was unequivocal. "No," he told reporters outside the State Department following an hour-long meeting with his American counterpart, Rex Tillerson.

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