Mexico Pulls Out of Fund That Has Roiled Trade Issue
Under sharp pressure from the United States, Mexican officials said today that the Government's main development bank would withdraw from a private investment fund set up to buy American companies and move them to Mexico to take advantage of lower wages. The announcement came almost immediately after the United States trade representative, Mickey Kantor, told his Mexican counterpart that he would not begin new negotiations on the North American Free Trade Agreement until Mexico resolved the issue of its role in the fund.