MEXICO CITY—Andres Manuel López Obrador’s election victory offers the chance to reset frayed relations with Washington as the incoming Mexican president and President Donald Trump both believe the North American Free Trade Agreement needs to be rewritten.
But major differences remain as the two committed economic nationalists are expected to butt heads over exactly how to rewrite the trade agreement and how to check illegal immigration into the U.S., issues that are central to politics on both sides of the nations’ shared...