U.S. exit from NAFTA would not be devastating for Mexico - minister

Mexico`s economy minister said on Thursday that he did not agree with statements made by U.S. Commerce Secretary Wilbur Ross that it would be devastating for Mexico if the United States pulls out of the North American Free Trade Agreement (NAFTA).

"No I don`t think so," Ildefonso Guajardo said in a TV interview when asked if he agreed with Ross. "Without a doubt Mexico could face a short-term impact because the market is very sensitive to marketing, branding ... Our ability to adjust, and the manner in which we do it, is what will allow us to resist any potential change."

Guajardo added that if NAFTA talks, which are currently in their fifth round in Mexico City, do end up stretching into March, the United States must ask itself if it wants the trade talks to influence Mexico`s July 2018 election.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)