October 4, 2017 10:54 AM

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Mexico economy minister downplays trade deficits ahead of NAFTA talks

As the United States, Mexico and Canada prepare for another round of negotiations to rework the North American Free Trade Agreement, Mexico's economy minister urged the parties to stop fixating on trade deficits between the countries. <br/><br/>The trade disparity between the U.S. and Mexico has been a frequent complaint of President Donald Trump, who has threatened to withdraw from NAFTA if he does not get concessions to decrease the U.S. trade deficit of about 64 billion US dollar with Mexico. However, Mexican Economy Minister Ildefonso Guajardo insisted that talks on the 23-year-old trade agreement should not center on trade deficits. <br/><br/><br/>NAFTA is an important pillar of the Mexican economy, with some 80 percent of the country's exports sent to the United States. The U.S., Mexico and Canada will hold a fourth series of negotiations from October 11 to October 15 in Washington, D.C.

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