The Mexican government may want to reopen its bilateral agreement with the U.S., particularly in terms of the automotive industry, if Canada is not a part of the final NAFTA (or USMC as President Trump prefers) revamp. That may relate to the potential increase in costs of importing parts from Canada or an increase in value accruing to the U.S. Contextually it may not make sense for autos to be a deal-breaker. Mexico’s automakers imported just $1.4 billion of parts from Canada in the past 12 months or 7% of that shipped in from the U.S. Should a final deal raise costs too much automakers...