Diversified export markets may offset Mexican Nafta showdown
Bank of Mexico sees failure to renegotiate trade agreement as biggest risk to economy
The diversification of Mexico’s export markets could cushion the impact that might come from failing to renegotiate a free trade deal with the US, says a report published by Oxford Business Group.
The economic ties with the US are essential for Mexico: the US buys more than 80% of the goods and services exported by its southern neighbour, according to the report. The US also accounts for 39% of foreign direct investment in Mexico.
That is why the renegotiation of the North Atlantic Free Trade
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