November 29, 2017 / 8:59 PM / a year ago

Mexican economy minister says U.S. NAFTA autos proposal "not viable"

WASHINGTON, Nov 29 (Reuters) - Mexican Economy Minister Ildefonso Guajardo said on Wednesday that a Trump administration demand for a U.S.-specific automotive content requirement in NAFTA was “not viable,” and declined to say when Mexico would offer a counterproposal.

At a news conference following a series of meetings with U.S. trade officials and lawmakers in Washington, Guajardo said that Mexico was still trying to understand the U.S. proposals to require 50 percent of vehicles’ value content be produced in the United States as part of updated North American Free Trade Agreement rules.

“It’s not viable at this point,” Guajardo said of the U.S. proposals, adding: “Eventually we are going to have to put on the table a counterproposal.” (Reporting by David Lawder; editing by Jonathan Oatis)

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