AFP, Brussels :
The EU and Mexico said Saturday they had reached an “agreement in principle” to modernise an existing free trade deal, as the Latin American country faces pressure from protectionist measures threatened by US President Donald Trump.
Under the updated terms of the 2000 deal, “practically all bilateral trade in goods will now be duty-free, including in the agricultural sector,” the European Commission, the EU’s executive arm, said in a statement.
The move is seen as sending a strong signal to Trump who last year launched renegotiations of what he has previously referred to as Mexico’s “cash cow”-the North American Free Trade Agreement (NAFTA).
The EU and Mexico said Saturday they had reached an “agreement in principle” to modernise an existing free trade deal, as the Latin American country faces pressure from protectionist measures threatened by US President Donald Trump.
Under the updated terms of the 2000 deal, “practically all bilateral trade in goods will now be duty-free, including in the agricultural sector,” the European Commission, the EU’s executive arm, said in a statement.
The move is seen as sending a strong signal to Trump who last year launched renegotiations of what he has previously referred to as Mexico’s “cash cow”-the North American Free Trade Agreement (NAFTA).
