North American free trade agreement with Europe needed, says ex-Mexican diplomat – From The Wires – Macleans.ca

Canadian and U.S. efforts to strike free trade deals with Europe must eventually be harmonized into a North American agreement involving Mexico, a former Mexican diplomat said Wednesday.

“I know this creates a lot of heartburn in…Washington, but eventually that has to be the step forward,” Arturo Sarukhan told an economic conference in Montreal.

The former ambassador to the United States said that a continental trade deal is needed to synchronize rules between the European Union and the NAFTA countries — Canada, United States and Mexico.

Failing to bind together three parallel trade processes will cause disruptions to North American supply chains and trade with Europe, he said.

That could hurt the automotive and aerospace industries, for example, because European and North American companies operate on both continents.

via North American free trade agreement with Europe needed, says ex-Mexican diplomat – From The Wires – Macleans.ca.

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