MEXICO CITY (EFE).— Asian companies, especially in China, that use Mexico as a springboard to access the U.S. market could be the “stones” that derail the review of the United States-Mexico-Canada Agreement (T-MEC) in 2026, warned yesterday Wednesday Larry Rubin, president of the American Society of Mexico (Amsoc).
“The issue of Chinese companies trying to use Mexico as a springboard to enter the United States is a huge concern,” warned the representative of American businessmen with capital in the country.
Presenting the third “Binational Convention,” which included an important announcement of investment in Mexico, Rubin said that this concern is latent in American congressmen, as well as in the White House.
“Certainly, business leaders in the U.S. and those from the United States in Mexico are also concerned,” he added.
The president of Amsoc said that the difficult thing is to compete with the Chinese government and not with a company, so he said that the regulation of its participation in North America will be “a condition” for the bilateral trade relationship.
“Chinese investment in the country can be a major derailer in trade between Mexico and the United States. We want to ensure that U.S. investment in Mexico, which remains the largest of any country, remains the guiding focus,” he said.
Rubin predicted that either of the US presidential candidates, Kamala Harris or Donald Trump, would completely change the current relationship with Mexico, although he predicted that the review of the USMCA would be positive.
“The review is very important and will have to be taken into account (in the elections), but we believe that in both possible scenarios the review of the T-MEC will be successful,” he said.
In this regard, he recalled that Kamala Harris voted against this trilateral agreement in North America as a senator in 2019, so he hoped that, like Trump, she would eventually understand “that trade with Mexico is vital” for the United States and the development of the region.
The leader of US capital in the country warned that “the Mexico issue” will continue to be present in the campaigns of Democrats and Republicans, and so he anticipated friction on issues such as immigration, security and drug trafficking, specifically fentanyl.
At a glance
Investments for Mexico
Larry Rubin announced that the third bilateral meeting, organized by Amsoc, will take place on September 3 and 4 under the title “A New Shared Future,” where he revealed that they will publicize investments in the pipeline destined for Mexico.
No specific amount yet
The leader of US capital in the country said that the amount of these future foreign direct investments for various sectors has not yet been defined and that they will be for the long term, at least for the next six-year term of the virtual president-elect of Mexico, Claudia Sheinbaum, who will take office on October 1.
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2024-08-20 13:19:31