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Global trade uncertainty a reason to ratify USMCA: Mexican minister


Added 10-18-19 02:03:02pm EST - “Mexican Finance Minister Arturo Herrera said on Friday the current global uncert...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Global trade uncertainty a reason to ratify USMCA: Mexican minister”. Below is an excerpt from the article.

WASHINGTON (Reuters) - Mexican Finance Minister Arturo Herrera said on Friday the current global uncertainty over trade is another reason to ratify the agreement negotiated last year between his country, the United States and Canada.

Herrera, speaking on the sidelines of the fall meetings of the International Monetary Fund and World Bank in Washington, said a common topic during a meeting of the Group of 20 late on Thursday had been the concern about trade tensions worldwide.

The United States and China, the world’s top two economies, have been in a 15-month trade war that the IMF said is partly to blame for a sharp slowdown in global growth.

“It is clear for everybody that this is a topic of great concern and these tensions have happened at the same time in which we are seeing a cyclical slowdown of the economy,” Herrera said.

“In particular in these uncertain times it would be better to have clarity for the next 16 years,” he added, referring to a sunset clause in the new United States-Mexico-Canada Agreement (USMCA), which could be extended 16 years after implementation.

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