New North American trade pact launches under a cloud



Jude Webber | Financial Times

A new trade pact between the US, Mexico and Canada begins on Wednesday with the top US negotiator threatening litigation, investor distrust rife and supply chains tested by the Covid-19 pandemic.

While US president Donald Trump and his Mexican counterpart Andrés Manuel López Obrador plan to toast the USMCA at the White House, probably after US Independence Day on July 4, others are less sanguine.

“I don’t believe that on July 2, there is going to be a queue of foreign investors in Mexico,” warned Carlos Salazar, head of Mexico’s main business lobby, which has seen relations with the leftist nationalist leader sour.

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