The minister added: “The tension in economic relations with China will occupy a central place in the US strategy.” “We are well aware that the United States is our main economic partner… We will try to some extent to mitigate the upcoming conflict and competition between Washington and Beijing.”
Speaking about the economic relations between the American side and his country, the Mexican minister pointed out that it has now become one of the main exporters to the United States, and expressed his confidence that by Trump’s second presidential term, Mexico will be in a better position to renegotiate the free trade agreement than it was during His first presidential term 2017-2021.
“The current starting point is much better than it was six years ago,” he said.
When Trump was still a presidential candidate for the Republican Party, he said that, if elected, he intended to increase tariffs on products coming from China and other countries.
It is noteworthy that the first period of Trump’s presidency witnessed “trade wars” between the United States and China. In practice, Trump’s successor, current President Joe Biden, has continued this economic confrontation: threats have been issued to increase tariffs on imports of Chinese steel, aluminum, and electric cars.
Earlier, calculations conducted by RIA Novosti confirmed that the main exporter of goods to the United States in the first eight months of 2024 was Mexico worth $335 billion, followed by China ($279 billion) and Canada ($275 billion). At the end of this year, Mexico will maintain its leadership in this area, with a supply volume of $496 billion. China comes in second place with a value of $431 billion.
In July, the White House announced that when importing from Mexico and in order to enter the US market duty-free under the US-Canada-Mexico Free Trade Agreement, stainless steel products as well as aluminum must be of Mexican origin, but if the metals used come from outside Mexico A 25% customs duty and a 10% tax will be imposed on Mexican aluminum goods produced using raw materials from China, Russia, Belarus and Iran.
Source: Novosti
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What specific measures is Mexico taking to position itself as a reliable alternative for American companies considering shifts away from Chinese suppliers?
**Interview with Mexican Economic Minister on US-China Relations and Economic Dynamics**
**Editor:** Thank you for joining us today, Minister. The recent comments you made regarding US-China economic relations have stirred quite a conversation. Can you explain what you mean by the tensions between the US and China occupying a central place in US strategy?
**Minister:** Thank you for having me. The tensions between the US and China are significant, particularly in terms of trade, technology, and geopolitical influence. These issues will inevitably shape America’s economic strategy moving forward. As we navigate this landscape, it’s crucial for us to understand how these tensions may affect our own economic interests and partnerships, especially with the US being our primary economic partner.
**Editor:** You mentioned that Mexico is trying to mitigate the conflict between Washington and Beijing. How does Mexico plan to position itself within this evolving economic relationship?
**Minister:** We understand that both the United States and China will seek to assert their influence, which may lead to competition that can affect global supply chains and trade dynamics. Mexico aims to strengthen its position by enhancing our trade partnerships with the US, positioning ourselves as a reliable and vital partner, and potentially offering alternatives to American companies that might be reconsidering their ties with Chinese suppliers.
**Editor:** Given that Mexico has become one of the main exporters to the United States, what specific strategies are you planning to implement to capitalize on this status?
**Minister:** Our focus will be on diversifying our export sectors, investing in infrastructure, and promoting quality standards to ensure our exports meet US requirements. We are also looking into advanced manufacturing and technology sectors to enhance our competitiveness. By doing so, we hope to attract more investment and create jobs, benefiting both our economy and our partnership with the US.
**Editor:** with the backdrop of these economic tensions, how do you see the future of Mexico’s economic relationship with the United States evolving?
**Minister:** I believe the future holds significant potential. While the global landscape is challenging, our geographic proximity, trade agreements, and shared interests position us uniquely. If we can effectively address concerns arising from US-China tensions, I am optimistic that our economic partnership with the United States will deepen, driving growth and innovation for both nations.
**Editor:** Thank you, Minister, for your insights on this critical issue. We appreciate your time.
**Minister:** Thank you for having me.
