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Published: Thu, July 05, 2018
Economy | By Melissa Porter

Mexico's victor reaches out to Trump, seeks NAFTA deal

Mexico's victor reaches out to Trump, seeks NAFTA deal

U.S. Senator Bernie Sanders and the leader of the British Labour Party Jeremy Corbyn were some of the high-profile progressives who congratulated Andres Manuel Lopez Obrador after his overwhelming victory on Mexico's presidential elections on Sunday.

The two leaders spoke on the phone for 30 minutes on Monday with Trump saying they discussed topics including border security, trade and the North American Free Trade Agreement (NAFTA) adding "I think the relationship will be a very good one".

This is the first presidential election for Lopez Obrador's party, the National Regeneration Movement (MORENA), which has formed a coalition with the left-wing Labor Party and right-wing Social Encounter Party.

His rhetoric has angered Mexicans in the United States and Mexico.

Lopez Obrador also said he would form joint teams with Pena Nieto's administration to analyse the $13 billion Mexico City airport project, which he has repeatedly threatened to scrap, and see what is the best course of action.

"We're going to accompany the current government in this negotiation, we're going to be very respectful, and we're going to support the signing of the agreement", he told Milenio TV.

"His ideals are more entwined with what I believe Mexico needs", Valdes said. Newspaper El Financiero's exit poll gave him 49 percent of the vote to 27 percent for conservative Ricardo Anaya and 18 percent for ruling-party candidate Jose Antonio Meade.

But Trump's national security adviser, John Bolton, suggested that the Republican president could find common ground with Lopez Obrador, predicting "some surprising results".

He has just won a landslide victory, vowing to end corruption, fight violence and put Mexico first.

He said contracts obtained under energy reforms passed under President Enrique Pena Nieto will be scrutinized for any corruption or illegality, but otherwise contracts will be honored.

The election of Andrés Manuel López Obrador on Sunday marked a historic moment for the Mexican left-and a potential shift for U.S. -Mexico relations.

Since Sunday, Lopez Obrador's every move has been broadcast live, with journalists and supporters forming a slow-moving convoy around the 64-year-old, who has pledged to shed various trappings of power including the presidential residence and plane, while earning half of Pena Nieto's salary.

Opponents of Obrador, have recognized their defeat and Obrador's victory in the election.

Amid widespread frustrations with the status quo, all of the candidates have tried to paint themselves as the agent of real change.

Mexican presidents are limited by law to a single term. "We are overweight local currency government bonds and the Mexican peso".

The American Action Forum found in a report on December 11 that outright withdrawal from NAFTA would cost United States consumers and businesses up to $7 billion annually in increased prices, and could also jeopardize 14 million jobs and threaten almost $1 trillion in North American trade.

"It's worth cautioning that we still have little clarity on Amlo's economic policies", said Edward Glossop, an economist at Capital Economics.

Compared with his predecessors, Lopez Obrador is likely to be more focused on domestic economic issues than on settling trade issues with the United States, O'Neil said. In the elections for Congress, his MORENA party and its allies could win majorities in both chambers, according to projections based on results still trickling in. He further assured, "We're gonna have them taken care of".

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