According to the report, the Mexican government expected to pass the latest United States, Mexico, Canada Agreement (USMCA), recently, and the North American Free Trade Agreement (NAFTA) will continue to be operated before the latest agreement was approved, the Mexican Prime Minister said.

The Mexican Prime Minister required that the congress must pass the labor reform law this spring, which was very important for the USMCA. The congress begun to review the latest agreement in September, and whether the agreement will be passed was based on the US Section 232 tariffs on aluminum and steel.

Some market participants stressed that if the Mexican government was unable to obtain the tariff exemption, they will continue to maintain the current status of the NAFTA.