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Mexico says new tariffs in NAFTA talks would be disastrous

Staff Writer |
Any attempt to introduce quotas or tariffs to the North American Free Trade Agreement would be disastrous for the three-nation treaty.

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Mexican Economy Minister Ildefonso Guajardo said that at a Toronto conference on the future of North America.

U.S. President Donald Trump - who says free trade treaties have cost countless thousands of American jobs - wants NAFTA to be renegotiated with a focus on cutting his country's large trade deficit with Mexico.

One idea floating in Washington is that of a border tariff, which could hit Mexican exports.

"Nothing in the new NAFTA should be a step backward. We will definitely not include any type of trade management measures, like quotas, or open the Pandora's box of tariffs," Guajardo said.

"That will be disastrous in any process moving forward," he said.

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