NAFTA unlikely to hurt Mexico car production

Has no plans to move production out of Mexico despite speculation that the anticipated revision of the North American Free Trade Agreement (NAFTA) could slap tariffs on trade between the U.S. and Mexico.

The carmaker's chairman and chief executive Carlos Ghosn told CNBC Tuesday that he expects a "rebalancing" of the 23 year old trade deal between the U.S., Mexico and Canada, but does not foresee an outright ban, which could sorely hurt the manufacturer's production plant in Mexico.

Nissan built its first overseas plant in Mexico 50 years ago and now produces more than 800,000 cars there, making it the largest auto manufacturer operating in the country, according to media.

"I'm not so worried because frankly I think NAFTA is so much in the interest of all parties," said Ghosn.

Anti-Mexico rhetoric consumed much of U.S. President Donald Trump's election campaign based on claims that the U.S. has lost businesses and jobs to its southern neighbour. Since entering into office, negotiations have been underway to revise the trilateral deal.