Mexico must diversify its U.S. exports
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The NAFTA renegotiation is an opportunity for the Mexican industry to increase the diversification of its products, as well as diversification of the export destinations within the same region. Jean Francois Perrault, Chief economist at Scotiabank, weighed in that the NAFTA has to be updated, as the economies of all three allies have changed and their governments must promote greater diversification in product exchange. While Canada is a leader in 35 out of the 50 U.S. Sates, Mexico is concentrated in just three States. The expert clarified that, if a restrictive policy were applied for these industries, companies from the three countries would suffer the effects.