In Mexico praised a new trade agreement with the United States

© Flickr / edansЦентральная street of Mexico – Paseo de La Reforma. Archival photoIn Mexico praised a new trade agreement with the United States© Flickr / edans

Previously, the U.S. imposed duties on steel and aluminium, and the response from Mexico may be cancelled as a result of reaching new trade agreements is NAFTA USMCA, said Monday the Minister of economy of Mexico Ildefonso, Guajardo.

In March it became known that Washington imposes duties in respect of imported U.S. steel and aluminium — 25% and 10% respectively. In relation to the EU, Mexico and Canada the decision was introduced with effect from 1 June. In response, in early June, Mexico officially announced the introduction of fees of 15-25% for some types of steel products, pork, agricultural products and whisky from the USA.

«My suggestion is to find a solution before signing to remove these protective measures hostile to the US withdrew the duty on steel and aluminium, and we — our retaliatory duties on cheese, pork, apples and some other products,» said Guajardo, live TV Imagen.

Earlier he said that the new trade agreement between the US, Mexico and Canada USMCA is planned for signing by the heads of three countries on November 29 in Argentina Buenos Aires at the summit of «big twenty». According to Guajardo, the effect of the new agreement is expected in the second half of 2019.

In turn, the President of Mexico, Enrique peña Nieto praised the fact of reaching an agreement. «Modernization of the trade agreement between Mexico, Canada and the United States ends after 13 months of negotiations and ensures that we proposed since the beginning of the agreement «win-win-win,» peña Nieto wrote in his microblog on Twitter.

Also reacted positively and the Minister of foreign Affairs of Mexico Luis Videgaray. «This is good news, giving confidence to the economy of Mexico, trade and investment, it provides integration in the region, which should be the most competitive in the world,» said Videgaray broadcast channel Televisa.

At the news of the conclusion of the agreement reacted and Mexican currency, the peso. On the interbank market on Monday morning its cost for dollar the best performance from 8 August to 18.59 pesos per unit of U.S. currency.

Previously on the website of the government of Canada issued a joint statement of the foreign Ministry of Canada Christi Freeland and US trade representative Robert Lighthizer. It said that the United States, Canada, and Mexico reached a trilateral trade agreement that will now be called the USMCA is NAFTA.

NAFTA operated since 1994 between the U.S., Mexico and Canada. Trump, on taking office, said he intends to revise it or to conclude a new agreement. The negotiations on this matter began in 2017. Trump stated that they would prefer separate trade agreements with Mexico and Ottawa, which almost certainly would put an end to NAFTA.