Economy Minister Marcelo Ebrard remains bullish about ongoing Mexico-U.S. trade talks, saying on Thursday that he is optimistic that new agreements are in the offing.
“We are getting closer on many issues, resolving problems, and we are making progress,” he said. “Every day we are closer to reaching new agreements.”
Ebrard spoke to reporters on the sidelines of the G-20 meeting in Milwaukee, Wisconsin, after a one-hour meeting with his U.S. counterpart Jamieson Greer.
Despite U.S. President Donald Trump’s protectionist policies, his tariffs and his lukewarm attitude toward the U.S.-Mexico-Canada Agreement (USMCA), Mexican exports to the U.S. continue to grow at a double-digit rate and bilateral trade is approaching US $900 billion annually.
Ebrard said his main priorities are negotiating the reduction of Section 232 tariffs, which affect Mexican exports of automobiles and other materials such as steel, aluminum and copper, and maintaining the preferential tariff treatment currently enjoyed by Mexican shipments that meet the requirements of the USMCA.
Even with the changes Washington is pushing for in its trade policy, Ebrard insists Mexico will maintain an advantageous position.
Comparing Mexico’s situation with representatives from Turkey, Saudi Arabia and other nations present at the G-20, Ebrard said “I was able to confirm that we are in a more favorable situation than they are.”
Ebrard attributed Mexico’s preferential status to President Claudia Sheinbaum’s handling of relations with Trump and to the close economic integration on both sides of their shared border.
An unnamed Mexican official cited by France 24 television network supported Ebrard’s optimism regarding the tariff talks.
“We expect to have reductions in steel and cars and aluminum,” the official said, speaking on condition of anonymity.
When asked if a deal would be struck before critical midterm elections in the U.S. next month, the official said Mexico is content to be patient.
In addition to meeting with Greer, Ebrard took advantage of the G-20 summit to strengthen ties with the European Union, Canada, India, Japan and Argentina.
“Our primary objective here at the summit has been to … protect jobs, our companies and our interests,” he said.
He is now planning trade missions to the EU and Canada next year, while confirming that Mexico and India are poised to begin a “new stage” in their economic relationship, with discussions ranging from tequila, which is subject to a 150% tariff, to vehicles and auto parts.
With reports from El País, EFE, France 24, LatinUS and El Economista
