Published: Вт, Июля 03, 2018
Business | By Kate Woods

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

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

Consequently, President Carlos Salinas de Gortari signed the North American Free Trade Agreement (NAFTA) in 1994, starting a new era of economic cooperation between Mexico and the US.

Mexico-US relations deteriorated following the election of Donald Trump as US president in November 2016.

Lopez Obrador promised after his victory on Sunday to increase a welfare program for the elderly, a move likely to increase liabilities.

But analysts at Banco Base attribute the peso's drop against the US dollar to broader global movement in favor of the dollar amid speculation about interest rates in the United States. "I'm going to earn half what Peña Nieto earns ... and we are going to reduce the salaries of those who are on top so we can raise the salaries of those at the bottom", Amlo pledged.

Lopez Obrador, who won a landslide victory in Sunday's election and takes office in December, traveled in a white Volkswagen sedan on Tuesday to the meeting with centrist President Enrique Pena Nieto in the presidential palace in the capital's colonial downtown district.

Lopez Obrador's coalition - led by the Morena party he launched in 2014 - appeared to be on track for a strong showing in state and congressional races as well, winning at least five of the day's nine governor's races, according to exit polls. Lopez Obrador rode to victory on a wave of widespread anger over graft and violence.

Mexico's next president, Andres Manuel Lopez Obrador, supports ideas such as creating a fiscal committee for prudent economic management, reforms of pensions and cost-cutting at state-owned oil firm Pemex, a senior aide told Reuters.

Venezuela's socialist government is welcoming the election of Mexican leftist Andres Manuel Lopez Obrador, who has spent most of the past dozen years trying to shake off allegations he'd steer Mexico toward a Venezuelan model.

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The president tweeted his congratulations before the official announcement of AMLO's victory, expressing his eagerness to work with him.

Lopez Obrador's team will study labour costs as well as clamping down on corruption in Mexico's largest company. 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.

The peso was trading at 20.11 per dollar on Monday morning.

Shortly after exit polls showed Lopez Obrador set to win, Meade conceded defeat, saying: "I wish Andres Manuel the greatest of success".

Lopez Obrador, also known as AMLO, won over supporters with an anti-establishment platform and promises to clean up corruption, combat soaring crime levels and help millions get out of poverty. It is even harder to see a new version of the Merida Initiative or a Southern Border Plan 2.0.

Past year the Labour leader went to Mexico to meet Mr Lopez Obrador and they discussed the "dream of realising a world government based on justice and fraternity". In his first loss - by a mere 0.56 percent to conservative Felipe Calderon in 2006 - his supporters held months-long protests in Mexico City and he referred to himself as "the legitimate president".

Voters will expect him to put into concrete action his anti-corruption agenda, reign in rising killings and cartel violence that have stubbornly resisted the efforts of his two predecessors, and revive a sluggish economy that grew just 2.1 per cent previous year.

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