Trump predicts 'very good relationship' with Mexico's president-elect Lopez Obrador

Eileen GuzmanJul 04, 2018

The next president will also inherit a simmering dispute with USA counterpart Donald Trump over migration and trade, with talks to rework the North American Free Trade Agreement (Nafta) unresolved, pressuring Mexico's peso currency.

This conciliatory tone and talk about "reaching an understanding" with the USA after the election is not what many of his voters want to see.

"The fundamental problem is that this country has a huge demand for drugs", she said.

Mr. Trump said they spoke by phone for about 30 minutes about trade, borders security and the North American Free Trade Agreement, the three-way trade deal that includes Canada and is being renegotiated at the insistence of the Trump administration. The peso fell more than 1 percent against the US dollar overnight as Lopez Obrador was elected.

Mexico's main stock index and the peso were both down Monday, but analysts at Banco Base attributed the currency's drop to broader global movement in favour of the USA dollar and speculation about US interest rates. Andres Manuel Lopez Obrador, known by his initials as AMLO, is a populist.

This was Lopez Obrador's third bid at the presidency. The PRI, which dominated Mexican politics for almost the entire 20th century and recaptured the presidency in 2012, was set to suffer heavy losses not just for the presidency but in other races as well. "There is much to be done that will benefit both the United States and Mexico!"

After the Trump administration in May slapped hefty steel and aluminum tariffs on its allies, Mexico hit back with $3 billion worth of retaliatory levies on United States goods.

"While Obrador's victory may ease concerns of political instability, there still remains a thick smog of uncertainty over Mexico's economic outlook", said Lukman Otunuga of FXTM.

U.S. Secretary of State Mike Pompeo will visit Mexico on July 13 to meet President-elect Andres Manuel Lopez Obrador and discuss immigration, trade, security and development, the U.S. and Mexican governments said on Tuesday. "I desire with all my soul to raise the greatness of our country on high". "The changes will be profound, but in accordance with established order". Ricardo Anaya of the centre-right PAN was a distant second at 22.6% and Jose Antonio Meade of the centre-left ruling PRI party at 15.6%. The quick count had them around 22 percent and 16 percent, respectively.

Lopez Obrador has promised to stop corruption in Mexico's government.

The president-elect said he would seek "a relationship of friendship and cooperation" with Mexico's northern neighbour, but one based on "mutual respect". "There will be no confiscation or expropriation of assets". He also proposed mobilising Mexican consulates in the U.S. to defend the rights of Mexican immigrants. And in Michoacan state, polling places in a few villages were cancelled after some inhabitants said they didn't want elections involving political parties, which they mistrust. And rather than the use of force to fight spiraling violence, he will look to fix root causes such as inequality and poverty. Anaya has tried to harness the youth vote with an emphasis on technology and new ideas, but he divided his own conservative party to take its candidacy and it's unclear if his new allies in the leftist Democratic Revolution Party will actually turn out for someone from the other end of the ideological spectrum.

Mexico's election tribunal says it will ratify the election results by no later than September 6. More than 3,000 offices were up for grabs, including 500 seats in the Chamber of Deputies, 128 in the Senate and eight governorships.

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