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 the Mexican government considering to enhance its competitive position in key sectors like automotive and electronics?
**Interview with Mexican Economic Minister Juan Carlos Mendoza**
**Editor:** Thank you for joining us today, Minister Mendoza. You’ve recently stated that the economic tension between the U.S. and China will play a significant role in U.S. economic strategy. Can you elaborate on how this affects Mexico?
**Minister Mendoza:** Certainly. As you mentioned, the U.S.-China relationship is crucial not just for the two countries involved but also for their trading partners. With rising tensions, we see an opportunity to strengthen our economic ties with the United States. Mexico is now one of the main exporters to the U.S., and we aim to enhance this partnership while navigating the complexities of the global economic landscape.
**Editor:** You noted that the U.S. is Mexico’s primary economic partner. How do you plan to mitigate the conflict and competition between Washington and Beijing?
**Minister Mendoza:** Our approach is twofold. First, we will actively engage in dialogue with our American counterparts to ensure that our interests are aligned. Second, we will focus on diversifying our supply chains. By positioning ourselves as a reliable and stable partner, we aim to absorb some of the disruption caused by U.S.-China tensions. This involves incentivizing further investment in Mexico and promoting our industries to reduce dependency on Asian supply chains.
**Editor:** Interest in Mexican goods has increased recently. What sectors do you believe will see the most growth in exports to the U.S.?
**Minister Mendoza:** We anticipate significant growth in sectors such as automotive, electronics, and agricultural products. Our proximity to the U.S. market, combined with our commitments to labor and environmental standards, positions us favorably. Additionally, ongoing improvements in our infrastructure will make it easier for us to compete.
**Editor:** Lastly, Minister, with the evolving economic landscape, what is your vision for Mexico’s role in North America going forward?
**Minister Mendoza:** My vision is for Mexico to be a key player in North America’s economic future. By strengthening our ties with the U.S. and leveraging our strategic location, we can not only support our economic growth but also contribute to a more integrated and resilient regional economy. We are committed to being part of the solution during these times of uncertainty.
**Editor:** Thank you, Minister Mendoza, for your insights. It will be interesting to see how Mexico navigates these challenges and opportunities in the coming years.
**Minister Mendoza:** Thank you for having me. We are optimistic about what lies ahead!