Monday, May 29, 2023
HomeEconomyMexico's economy minister resigns, deal blow to trade team in U.S. talks

Mexico's economy minister resigns, deal blow to trade team in U.S. talks

Kylie Madry

MEXICO CITY (Reuters) – Mexico’s economy minister Tatiana Clouthier stepped down on Thursday, as the Mexican government scrambled to block a deal Major trade talks come as Mexico has lost a key trade negotiator. Disputes with the United States and Canada over energy issues.

Claudière, the descendant of a powerful political family who became economy minister early last year, said she first told Andres Manuel Lopez Obra President Dole plans to resign soon after the energy divide threatens Mexico to be costly.

Her resignation is effective immediately.

U.S. calls for dispute settlement talks with Mexico in July on energy issues 20. Cloutier said she first discussed her desire to step down with Lopez Obrador in July, using a baseball analogy to explain her decision.

“It’s like in a game, one needs to know when to retire,” Cloutier said as Lopez Obrador stood next to her. The policy has rattled U.S. and Canadian investors, who believe their companies are at an unfair disadvantage.

The U.S. energy complaint, which Canada has joined, puts Clouthier in a difficult position, forcing her to defend policies that Mexican officials have privately acknowledged that are likely to violate the North American trade deal that Lopez Obrador also promised.

Apparently moved when reading her resignation letter at a government news conference, Cloutier said she also presented her plan to resign with Lopez Obrador in September.

Lopez Obrador said he respected her decision. “We insisted she stay, but she is a woman of faith,” he added.

Lopez Obrador said a replacement for Cloutier will be announced on Friday.

Dario Celis, a columnist for a prominent Mexican financial newspaper, tweeted that Raquel Buonrostro, the head of Mexico’s tax bureau, will serve as the new economy minister.

A person familiar with the president’s thinking told Reuters that Boone Rostero was lining up for the job. Neither Buon Rostero’s office nor the president’s office immediately responded to a request for comment.

Claudière’s departure comes just days after a preliminary negotiation period over the energy dispute is due to expire. Washington could choose to call for a dispute settlement panel in 75 days later, but U.S. and Mexican officials told Reuters that talks would continue.

Mexico risks being hit with punitive trade tariffs if the dispute ends up in a panel, trade experts say.

Clouthier thanked the President for showing her that “there is no insurmountable exhaustion, sickness, or impediment to public service.”

When When asked by reporters if Cloutier was ill, Lopez Obrador did not respond.

Cloutier, former congresswoman and former member of the opposition centre-right National Action Party (PAN), later with left-wing Lopez Obrador Teamed up and played a major role in 2018 running for president.



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