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
#Mexico #declares #readiness #calm #economic #relations #United #States #China
What impact do you think Mexico’s role as a major exporter to the US will have on its economic policies moving forward?
**Interview with Economic Analyst on US-China Relations and Mexico’s Role**
**Editor:** Today, we’re joined by Dr. Luis Hernandez, an economic analyst specializing in international trade relations. Welcome, Dr. Hernandez!
**Dr. Hernandez:** Thank you for having me.
**Editor:** Let’s dive right in. Recently, a Mexican minister stated that tensions in economic relations with China will play a central role in US strategy. What are your thoughts on this?
**Dr. Hernandez:** It’s a significant observation. The US is navigating a complicated relationship with China, especially concerning trade. This tension forces countries like Mexico to position themselves strategically. The minister’s remarks highlight Mexico’s awareness of its role in this dynamic.
**Editor:** Interesting. The minister also noted that Mexico is now one of the main exporters to the US. How does this position Mexico in the context of US-China relations?
**Dr. Hernandez:** Mexico’s position as a major exporter to the US gives it considerable leverage. In light of the tension between Washington and Beijing, Mexico can enhance its economic partnership with the US. This could mean more investment, increased trade, and job creation. However, it also requires careful diplomacy to avoid being caught in the crossfire of US-China competition.
**Editor:** You mentioned the need for careful diplomacy. What strategies might Mexico employ to navigate these tensions?
**Dr. Hernandez:** Mexico could focus on strengthening and diversifying its trade agreements not just with the US but also with other countries to reduce reliance on any single economic partner. Additionally, promoting sectors where Mexico has a competitive edge, such as automotive and electronics, can further entrench its position as an alternative to Chinese manufacturing for the US.
**Editor:** Lastly, do you think Mexico can truly mitigate the upcoming conflict and competition between the US and China?
**Dr. Hernandez:** While Mexico can’t single-handedly resolve the tensions between the US and China, it certainly has the potential to benefit from this rivalry. By positioning itself as a reliable trade partner and strategically navigating these relationships, Mexico can enhance its economic stability and growth.
**Editor:** Thank you, Dr. Hernandez, for sharing your insights on this critical topic.
**Dr. Hernandez:** My pleasure!
