News In Brief

Baldrige open to a pact on trade with Mexico

US Commerce Secretary Malcolm Baldrige said Monday the idea of a bilateral commercial agreement between Mexico and the US is worthy of serious consideration. But he warned a meeting of businessmen in Mexico City that any agreement must involve give-and-take on both sides.

Mexico is the third-largest trading partner of the US and the US is Mexico's biggest market. In the absence of a proper agreement, trade disputes are handled on an ad hoc basis.