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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**Interview with Dr. Ana Ramirez, Economic Policy Expert**
**Editor:** Thank you for joining us today, Dr. Ramirez. The recent comments by a Mexican minister about the tension in U.S.-China economic relations certainly highlight the intricate dynamics at play. Can you elaborate on how these tensions might influence U.S. relations with Mexico?
**Dr. Ramirez:** Absolutely. The Mexican minister’s statement underscores a critical reality: as the U.S. grapples with its ongoing economic competition with China, countries like Mexico are positioning themselves strategically. With the U.S. as Mexico’s primary economic partner, Mexico is likely to leverage this relationship to bolster its exports and strengthen its economic relevance to the U.S. market.
**Editor:** So, it seems that Mexico is trying to navigate between two powerful economies. What strategies do you think they might employ to mitigate the impacts of U.S.-China tensions?
**Dr. Ramirez:** Mexico has a unique opportunity here. By emphasizing its role as a reliable supplier to the U.S., especially in manufacturing and agriculture, it can attract more investment from American companies looking to reduce their reliance on Chinese imports. Moreover, Mexico could enhance its infrastructure and labor force training programs to meet U.S. standards, further solidifying its export position.
**Editor:** Given the historical context of U.S.-China relations and Mexico’s growing export role, how do you see this evolving in the next few years?
**Dr. Ramirez:** The evolution will depend heavily on the political climate in both the U.S. and China. As tensions rise, we may see the U.S. encouraging allies like Mexico to take on more of the supply chain that China currently dominates. This could lead to increased economic cooperation between Mexico and the U.S., potentially altering trade flows significantly. However, it also means that Mexico will need to remain vigilant about navigating its own economic policies to maintain a balanced relationship with both nations.
**Editor:** That certainly paints a complex picture. Any final thoughts on what the future might hold for Mexico’s economic strategy in this context?
**Dr. Ramirez:** Mexico should focus on building a robust trade policy that prioritizes diversification and resilience. By strengthening trade agreements and fostering innovation domestically, Mexico can ensure that it not only survives but thrives amid U.S.-China tensions. The upcoming years will be pivotal for how countries like Mexico position themselves on the global stage.
**Editor:** Thank you, Dr. Ramirez, for sharing your insights. It’s clear that the interplay between these economic giants will have far-reaching effects, not just for the U.S. and China, but also for countries like Mexico.
**Dr. Ramirez:** Thank you for having me!
