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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**Interview with Mexican Economic Minister Carlos Mendoza**
**Interviewer:** Thank you for joining us today, Minister Mendoza. We’ve just heard your remarks regarding the economic tensions between the United States and China. Can you elaborate on how this situation impacts Mexico’s economic strategy?
**Minister Mendoza:** Thank you for having me. The tension between the U.S. and China indeed opens up new dynamics for us. As a key American economic partner, we recognize our role in this shifting landscape. Our goal is to mitigate any negative effects while seizing opportunities that may arise from this competition.
**Interviewer:** You mentioned that Mexico is one of the main exporters to the U.S. What specific sectors do you see growth potential in as a result of these tensions?
**Minister Mendoza:** Absolutely. We see significant potential in sectors like manufacturing, agriculture, and technology. As companies look to diversify their supply chains away from China, Mexico can position itself as a favorable alternative due to our proximity and trade agreements with the United States.
**Interviewer:** How important is your relationship with the U.S. in navigating this competition between Washington and Beijing?
**Minister Mendoza:** It’s crucial. Our economic relationship is not just a matter of exports and imports; it involves deep interdependencies, investments, and cooperation. By strengthening these ties, we can better insulate our economy from external shocks and enhance our competitive edge.
**Interviewer:** what message would you like to convey to Mexican businesses in light of these developments?
**Minister Mendoza:** I encourage Mexican businesses to be proactive. This is a critical moment to innovate, invest, and seek partnerships that can amplify our strengths in the U.S. market. Together, we can turn these challenges into opportunities for growth.
**Interviewer:** Thank you, Minister Mendoza, for sharing your insights. It will certainly be interesting to see how Mexico navigates this evolving economic landscape.
**Minister Mendoza:** Thank you for having me. It’s an important conversation, and I look forward to what lies ahead for Mexico and its relationship with the U.S.
