Mexican foreign minister: ‘We are ready’ to rework NAFTA

Mexican Foreign Minister Luis Videgaray says his nation is “ready” to renegotiate the North American Free Trade Agreement (NAFTA), which President Trump has told Congress he plans to do.

“We are prepared,” Videgaray said Thursday in Washington. “We are ready. We understand that this is 25-year-old agreement when it was negotiated.”

“The world has changed. We have learned a lot and we can make it better. Better for the people of Mexico, the people of the U.S. and the people of Canada.”

{mosads}Videgaray added that a “win-win framework” remains possible for a trade pact among the U.S., Canada and Mexico.

U.S. Trade Representative Robert Lighthizer notified Congress on Thursday that Trump intends to renegotiate NAFTA to support higher-paying jobs here and grow the American economy by improving trade.

 “USTR will now continue consultations with Congress and American stakeholders to create an agreement that advances the interests of America’s workers, farmers, ranchers and businesses,” he wrote.

“The plan is to address intellectual property rights, regulatory practices, state-owned enterprises, services, customs procedures, sanitary and phytosanitary measures, labor, environment, and small and medium enterprises.”

Lighthizer’s letter added that there would also be stiffer enforcement of NAFTA going forward.

Trump agreed not to pull out of NAFTA last month after phone calls with Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto.

Trump repeatedly criticized NAFTA during his 2016 election bid, arguing it hurt U.S. workers.