Jesus Seade, a former top official at the World Trade Organization that has been tapped by President elect Andres Manuel Lopez Obrador (AMLO) said that a deal for a revamped NAFTA can be reached within a couple of months, as AMLO’s team fundamentally agrees with Mexico’s current negotiating positions.
Interviewed by Bloomberg, Seade said the U.S. proposal for a US$ 16 an hour wage for the automotive industry isn’t feasible and would cause distortions to the nation’s economy and labor market. Instead, he said, Lopez Obrador is focused on raising the minimum wage.
“Fundamentally we are in complete agreement” with the positions taken by the negotiating team of President Enrique Pena Nieto, Seade said.
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