Videgaray spoke after the Trump administration formally launched its effort to renegotiate NAFTA with Canada and Mexico to try to win better terms for US workers and manufacturers.

"The government of Mexico welcomes this development," Videgaray said at a news conference with Secretary of State Rex Tillerson and other Mexican and US officials at the State Department. "We understand that this is a 25-year-old agreement when it was negotiated, the world has changed, we've learned a lot and we can make it better."