Canadian Foreign Minister Chrystia Freeland on Thursday cautioned against the idea of reopening a new continental trade pact with the United States and Mexico, saying it could be a “Pandora’s box.”
Even after negotiations grew strained with regard to the North American Free Trade Agreement (NAFTA), Mexico's car manufacturing cities have largely thrived.
Industry trade associations representing car and parts manufacturers in North America are attempting to persuade their governments to renew negotiations regarding NAFTA.
Mexico’s auto manufacturing industry this week rejected a proposal presented by U.S. trade authorities that would impose new rules on the origin of vehicle parts sold tariff-free under NAFTA.