Amid of tariff threats, Mexico sure of approval of USMCA trade deal

Despite the recent U.S. threat of tariffs, the head of trade and NAFTA office for the Mexican government believes the United States-Mexico-Canada (USMCA) free trade pact is likely to be approved by legislators in the three countries, he told CNBC on Friday. "The USMCA has a lot of potential in the three countries' Congresses or parliament", Guillermo Malpica told CNBC when asked if the new trade deal was dead.

U.S. President Donald Trump on Thursday threatened to impose tariffs on Mexico in retaliation for illegal immigration largely from Central America, across the U.S.-Mexican border. The Mexican head of trade told CNBC that the announcement is yet to be notified through a "formal channel of communication". He added that Mexico may take a decision with respect to counter-measures depending upon the nature of the action from the United States.