Robert Lighthizer — the architect of US President Donald Trump’s protectionist trade agenda in his first term — has a sobering message for Mexico: Revising the North American free trade pact, known as USMCA, will be far tougher than most investors and strategists expect.
That was my takeaway after hearing the former US Trade Representative speak this week in Mexico City to a group of business leaders, academics and government officials. What was meant to be a routine six-year revision of the treaty, in force since 2020, is quickly morphing into a full-blown renegotiation, one that will demand exceptional patience and negotiating skills from Mexico if it hopes to reach safe harbor.