Mexico declares its readiness to calm economic relations between the United States and China

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

How is Mexico positioning⁢ itself to benefit from the ⁤US-China economic tensions?

**Interview with Mexican Minister on US-China ⁣Economic Tensions**

**Interviewer:** Today, we’re joined by the Mexican‌ Minister of Economy, who recently spoke out about the evolving dynamics in ‍US-China economic relations. Thank ‍you⁤ for being here.

**Minister:** ​Thank you for having me.

**Interviewer:** You⁤ mentioned that the tension in economic relations with China will be central to US strategies⁢ moving forward. Can you elaborate on how this impacts Mexico?

**Minister:** Absolutely. As you know, the⁢ United States is our primary economic partner. We⁤ are committed to navigating‍ the complexities that arise from the ⁣competition between Washington⁢ and ⁢Beijing. Our goal is⁤ to position Mexico as a stable alternative for American businesses looking‌ to diversify‌ their supply chains.

**Interviewer:** That’s interesting. You noted that Mexico has become one of the main exporters to the US. How does that change ⁤the landscape for Mexican businesses?

**Minister:** It opens up significant ‌opportunities. With US companies⁢ seeking to⁣ mitigate risks from their ⁣reliance on Chinese manufacturing,⁣ we are strategically enhancing our trade agreements and logistics capabilities to ensure that Mexican products can⁣ seamlessly reach the American market.

**Interviewer:** ⁣You express optimism about⁣ navigating these tensions. What specific ‌steps is Mexico taking to mitigate potential ⁤fallout from the ⁣US-China conflict?

**Minister:** We are actively engaging in diplomatic discussions with US officials ⁢to reinforce our partnership. Additionally, we’re investing in infrastructure ​and ⁤technology to​ bolster our manufacturing ‍capabilities, ⁤ensuring that we can meet US demands effectively.

**Interviewer:** With​ all ‍these changes, do you foresee any challenges ahead for Mexico?

**Minister:** ⁢Certainly. The international economic landscape is unpredictable, and​ we must remain flexible. ⁤However, I believe that by fostering stronger ties with ⁣the US, we can effectively navigate ⁢these challenges and facilitate economic growth.

**Interviewer:** ‌Thank you for ⁢shedding light on this ​crucial​ issue. We appreciate your ⁢insights.

**Minister:** Thank you.⁢ It’s been a pleasure.