Turkey's finance minister to visit Egypt for first time in 9 years    Finland and Sweden formally apply to join NATO alliance    Shell acquires Block 3 in North East El-Amriya, Egypt    Egypt's foreign inflows grow 30% since pound correction move in March – c.bank governor    Twitter board eagers to close Musk's deal, despite spam pots percentage    Saudi Arabia prolongs Yemen central bank's deposit    Egypt Knauf launches its first training centre in Egypt    Egypt uncovers official logo for COP27    Noura Al-Mutair – first Gulf female boxer in World Championships    Egypt unveils 50 pound coin minted to mark Avenue of Sphinxes grand reopening    Liverpool fans: "You'll Never Walk Alone" to Cristiano Ronaldo    Hot, rainy weather hits Egypt this week    COVID-19 in Egypt: infections fall to 124 cases last week    Realme announces Global Photography Contest 2022    Egypt to play key role in integrating water, climate issues globally – World Bank official    Egypt's telecoms regulator announces working hours for holy month of Ramadan    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Mexico's new president says Trump is ‘arrogant' yet promises ‘friendly' ties
Published in Amwal Al Ghad on 03 - 07 - 2018

Mexico's new president Andres Manuel Lopez Obrador promised to seek friendly ties with the United States, shortly after claiming a landslide victory in the country's presidential election.
On the back of widespread frustration over endemic corruption and brutal violence, the 64-year-old former Mexico City mayor won around 53 percent of the vote, according to an official projection of results.
It marks the first time in Mexico's modern history that a candidate has won more than half of the vote in a competitive election and an unambiguous rejection of the two traditional mainstream parties that have governed the country for nearly a century.
Trump ‘looking forward' to working with AMLO
During the campaign Lopez Obrador regularly used confrontational language when referring to U.S. President Donald Trump. He has previously described the U.S. president as "erratic and arrogant."
Nonetheless, he soon sought to adopt a much more conciliatory tone in a victory speech late Sunday, saying he would seek "friendly relations" with the U.S.
Political ties between Mexico City and Washington have been strained since the election of Trump, who has routinely criticized the Latin American country over trade and migration. However, the U.S. president appeared ready to try to start things off on the right foot.
"I look very much forward to working with him," he tweeted Sunday shortly after several of Lopez Obrador's political rivals had conceded defeat, before adding: "There is much to be done that will benefit both the United States and Mexico!"
Duncan Wood, director of the Wilson Center's Mexico Institute, told CNBC Monday that while Trump's timely congratulatory message to Obrador was a "very encouraging" sign; any continuation of the U.S. president's targeted political attacks would most definitely prompt a swift and firm response.
"Andres Manuel (Lopez Obrador) will not just sit back and take it, he will respond and that could lead to a serious deterioration of the relationship," Wood said.
The new ‘superstar of Latin American politics'
A champion of the poor, the sharp-tongued leftist lawmaker has been described by critics as a Mexican Hugo Chavez or even a Mexican Donald Trump, thanks to his nationalist and populist agenda — although he's toned down some of his more inflammatory campaign promises like ending energy privatizations.
Mexico's peso soared more than 1 percent shortly after initial exit polls projected Lopez Obrador would clinch victory on Sunday. But those gains were short-lived, as the currency then fell by around 0.8 percent amid reports the win could be big enough to herald a congressional majority.
The peso has since settled to trade marginally lower, as market participants reacted to Lopez Obrador's pledge to maintain fiscal discipline and preserve central bank independence.
He's also called the ruling political class "filthy pigs," "hogs" and "swine" during campaign rallies, and promised a non-violent revolution. Still, his aides say that on most of his more radical pledges, he won't actually follow through.
"He will have a very strong honeymoon period, he is going to emerge as a superstar of Latin American politics and he has the opportunity right now to do very, very important things for the country," the Wilson Center's Wood added.
What about trade?
Trump has aggravated political ties with Mexico by saying he would look to re-negotiate the North American Free Trade Agreement (NAFTA) and build a wall along the U.S.-Mexico border.
When asked what the U.S. administration expected from Lopez Obrador regarding trade policy, Commerce Secretary Wilbur Ross told CNBC: "Clearly the reality is that Mexico needs some sort of an arrangement with the U.S."
Lopez Obrador, who has previously been critical of NAFTA, saw his popularity among farmers and the working class increase thanks in large part to his confrontational attitude toward Trump.
"He will certainly stand up to Trump should Trump engage in destructive policies like building the wall and making Mexicans pay for the wall ... That won't happen," Beat Wittmann, a partner at financial consultancy Porta Advisors, told CNBC's "Squawk Box Europe" on Monday.
When asked whether global leaders could soon try to come together in order to avoid a full-blown trade war, Wittmann replied: "I don't think that Trump will blink at this stage. I clearly think that all countries affected by tariffs will retaliate because if they don't retaliate they will be voted out of office."
"There is some significant anti-American sentiment building," he added.
Source: CNBC


Clic here to read the story from its source.