Despite Donald Trump's repeated inflammatory comments, a key Mexican official said his country is prepared to negotiate if the GOP nominee wins the election.
"There are many countries that are related to the U.S. economy, but very few that are so related (as) Mexico," Secretary of Economy Ildefonso Guajardo Villarreal said Wednesady night at a panel hosted by the Americas Society/Council of the Americas. He noted that 80 percent of the country's exports go to the United States.
The panel, which also featured the presidents of Chile, Colombia and Peru, focused on the future of the Pacific Alliance, a trade bloc comprising those three nations and Mexico. The four countries collectively account for more than a third of Latin America's gross domestic product and 46 percent of the region's exports.
CNBC's Michelle Caruso-Cabrera moderated the discussion.
When asked about what would happen if Trump were to win, Guajardo indicated that Mexico would be willing to talk.
"For Mexico, we have to be out there," he said. "If we have to talk to the devil to guarantee the safety and the future of the Mexican people in Mexico and the U.S., we will talk to the devil."
To watch a video of the full panel, click here.