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Mexico economy minister to meet with Ford, GM in Detroit

FILE PHOTO: Ford cars are seen on sale at a dealership of Genser company in Moscow, Russia, February 14, 2017. REUTERS/Maxim Shemetov/File Photo

MEXICO CITY (Reuters) - Mexico's economy minister will travel to Detroit on Friday to meet with executives from automakers Ford Motor Co (F.N) and General Motors Co (GM.N) as Mexico seeks to deter U.S. President Donald Trump from imposing a border tax on Mexican-made goods.

Economy Minister Ildefonso Guajardo will also meet with auto parts makers that have operations in Detroit and Mexico, the ministry said in a statement. He will discuss the state of U.S.-Mexico trade and the future of the North American Free Trade Agreement (NAFTA), the ministry said.

Trump has vowed to exit NAFTA, the 1994 accord that also includes Canada, if he cannot get better terms for the United States.

On Tuesday, Foreign Minister Luis Videgaray said Mexico would only stay in NAFTA if it suited the nation and he rejected the imposition of any tariffs or quotas. The countries have yet to start formal negotiations.

"Thanks to NAFTA, Mexico and Michigan have built a dynamic trade relationship," the ministry said, noting that Mexico was Michigan's second biggest trade partner with more than $12 billion in exports to Mexico last year.

(Reporting by Veronica Gomez; Editing by Jeffrey Benkoe)