The USMCA signing was the main news only in Mexico

 

The signing by US lawmakers of the USMCA trade deal was the main feature in Mexican media today. Mexican stock exchange immediate reaction reporting a 2 percent increase, the main changes in the new version of the regional agreement, and remarks by President Andrés Manuel López Obrador and by Business Coordination Council officers, gave readers a comprehensive view of the news in eight columns and in most of the national outlets.

For the specialized newspapers in finance the news started in their front pages, with several others pages detailing reactions and additional information.

El Economista highlighted the Mexican stock exchange positive reaction and the private sector plea to do more to attract investment. The main changes in NAFTA’s new version were also listed, and those cover issues related to the labor agenda, and the impact for the automotive sector and for e-commerce.

El Financiero emphasized that Congress and Economy Ministry are already working in the trade implementation, and also highlighted the next steps for the agreement in Mexico the US and Canada.

Even for the leftist newspaper La Jornada this was the main feature of the day, leaving the pro business Reforma as the only outlet ignoring the signing in its front page.

Abroad, most of the main newspapers in the US and Canada (the Wall Street Journal and the Financial Times included), didn’t even mention the signing in their front pages, leaving the Washington Post and the Boston Globe as the only major outlets with discrete mentions on the bottom of their front pages and less than 20 words.Finc

Despite the news in the US was eclipsed by President Donald Trump’s impeachment, there were some mentions, most of them related to dairy products exports from Canada Other reactions talking about the automotive industry were reported.

For the New York Times the agreement “sets new rules for automobile production, meant to incentivize production of cars and trucks in countries that pay higher wages,” while for the conservative pro Trump outlet Fox News “some of its breakthroughs include reinvigorating US car manufacturing.”