Mexico City, January 26 (RHC)-- Mexico could pull out of the North American Free Trade Agreement, NAFTA, if a renegotiation of its terms does not benefit Latin America's second-largest economy, Economy Minister Ildefonso Guajardo said. 

"There could be no other option.  Go for something that is less than what we already have?  It would not make sense to stay," Guajardo said when asked on television if Mexico could pull out of the trade deal with Canada and the United States. 

"The strategy for this treaty needs to be one in which everyone wins.  It's impossible to sell it here at home if there aren't clear benefits for Mexico," he added. 

U.S. President Donald Trump has vowed to withdraw from NAFTA, which took effect in 1994, if he cannot renegotiate it to benefit U.S. interests.  Trump formally withdrew the United States from the Trans-Pacific Partnership on Monday and said he would renegotiate NAFTA "at the appropriate time."