No wonder Europe loves Barack Obama: while Obama is promising unilateral withdrawal from NAFTA unless Mexico agrees to new terms to protect U.S. union jobs, the European Union is working to reduce trade barriers with Mexico. The AP reports:
The European Union’s executive commission on Tuesday proposed to upgrade ties with Mexico, recommending the North American nation be made a “strategic partner” for the 27-nation EU.
The plan, which still needs the backing of EU nations and the European Parliament, was also seen to improve European access to Mexico’s oil reserves and bolster its influence in the region dominated by the United States.
Mexico is the world’s sixth-largest oil producer.
The EU and Mexico already have a free trade pact, which came into force eight years ago. … The 27-nation EU is Mexico’s second-biggest trading partner after the United States.