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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How is Mexico leveraging its position as a key exporter to the U.S. during the current tensions between the U.S. and China?
**Interview with Mexican Economic Minister, [Minister’s Name]**
**Editor:** Thank you for joining us today, Minister [Name]. You recently mentioned that the tension in economic relations between the U.S. and China will play a central role in U.S. strategy. Could you elaborate on how this dynamic affects Mexico’s position?
**Minister:** Thank you for having me. Yes, the increasing tension between the U.S. and China is indeed significant. For Mexico, it presents both challenges and opportunities. As we are aware, the U.S. is our main economic partner, and we are strategically positioned to mitigate some of the impacts of this competition. We aim to enhance our exports to the U.S. while ensuring that we maintain a stable trade environment.
**Editor:** You mentioned Mexico has become one of the main exporters to the U.S. Could you give us more details on what products or sectors are driving this growth?
**Minister:** Certainly. Mexico has a diverse export portfolio, but key sectors include automotive, electronics, and agricultural products. We have worked hard to strengthen our supply chains and ensure that our goods meet U.S. standards. As a result, we have seen significant growth in our exports, which ultimately benefits the economies of both nations.
**Editor:** In light of the upcoming conflict and competition between Washington and Beijing, how does Mexico plan to navigate this landscape to protect its interests?
**Minister:** Our strategy is focused on enhancing bilateral cooperation with the United States. We believe that by fostering stronger economic ties and focusing on mutual benefit, we can navigate these tensions effectively. We will continue to advocate for trade policies that support Mexican industries while also being flexible enough to adapt to any shifts in U.S.-China relations.
**Editor:** Thank you, Minister [Name], for sharing your insights on this complex issue and Mexico’s role in the evolving economic landscape. We appreciate your time.
**Minister:** Thank you for having me. It’s crucial for us to stay engaged in these discussions and explore ways to strengthen our economy amid global changes.