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Secretary of finance says Mexico has a NAFTA Plan B

Mexico City, Mexico — The Secretary of Finance and Public Credit, Jose Meade Kuribreña, says that Mexico has enough confidence and strength to achieve good results in the negotiations of the North American Free Trade Agreement.

He pointed out that if the trilateral agreement with the United States and Canada are terminated, the country has a Plan B which consists of applying fiscal and monetary policy.

Meade says, “Our best Plan B is to do our task well in public finance and now, do our job well in terms of giving the economy the best institutions and the best elements of flexibility and strength.”

The secretary accepted that there is uncertainty due to the re-negotiations that have already had an impact on the exchange rate, yet he stressed that if Mexico were only an export platform, the noise of the treaty would be greater.

Despite the complications of the trade agreement, the main scenario for the Mexican government in a positive negotiation, Meade said during the forum Driving Mexico.

It is natural for differences to emerge that generate tensions and speculation about how it will end, but the best result is that we have a modernized free trade agreement that addresses the concerns of the three countries.

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