After almost 30 years since the signing of the first Free Trade Agreement between Canada, the United States, and Mexico, the markets of these nations are so interconnected that breaking this alliance would currently be extremely detrimental, according to Senator Waldo Fernández. Any attempt at separation would only harm the economies of the three countries, warned the Senator.
Fernández emphasized the importance of maintaining a solid regional vision to strengthen the existing integration among the nations and make it even more influential, especially in a context where competition with the Chinese market represents a challenge. The automotive market, for example, which accounts for 53% of the global market, is a key sector where the union of Canada, the United States, and Mexico represents between 15% and 16%.
The Senator highlighted that the economic integration of the three nations not only strengthens their position against China but also demonstrates a strategic partnership that goes beyond being mere trading partners. Fernández refuted the statements of Ontario Premier Doug Ford, who suggested the expulsion of Mexico from the treaty and a return to a pact solely with the United States, labeling this proposal as irrational and lacking understanding of global economic dynamics.
In this regard, the Senator called for approaching the partnership between the three countries with a strategic and rational vision, avoiding positions based on fear or political ends, as the interdependence between Canada, the United States, and Mexico is a fundamental pillar in the region.
