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 positioning itself as an alternative to China for U.S. supply chains?
**Interview with Mexican Minister of Trade on U.S.-China Economic Relations**
**Interviewer:** Thank you for joining us today, Minister. There has been significant discussion about the tensions in the U.S.-China trade relationship, especially with the upcoming conflict you mentioned. Can you elaborate on how this affects Mexico?
**Minister:** Thank you for having me. Yes, the tension between the U.S. and China is indeed a crucial factor in our economic strategy. As the U.S. navigates its competition with China, we recognize our position as a vital player; the U.S. is our main economic partner.
**Interviewer:** That’s a strategic position for Mexico. What steps are you taking to mitigate the potential fallout from the U.S.-China tensions?
**Minister:** We are actively working to enhance our trade relations with the United States. By positioning ourselves as a reliable exporter, we aim to absorb some of the disruptions that might arise from U.S.-China conflicts. Our goal is to ensure that Mexico remains a preferred partner in the region, regardless of these geopolitical dynamics.
**Interviewer:** Given the complexities of international trade, how do you see Mexico benefiting from the current landscape?
**Minister:** Mexico has established itself as one of the main exporters to the U.S., particularly in sectors like manufacturing and agriculture. As the U.S. seeks to diversify its supply chains away from China, we believe that we can fill that gap and bolster our economic ties even further.
**Interviewer:** That sounds promising for Mexico’s economy. What long-term strategies are in place to sustain these relationships?
**Minister:** We are focusing on innovation and sustainability in our trade practices. By enhancing our production capabilities and infrastructure, we want to make sure that we not only meet U.S. demand but exceed it in terms of quality and reliability. This, combined with our geographic advantage, puts us in a strong position moving forward.
**Interviewer:** Thank you, Minister, for your insights on this important topic. It will be fascinating to see how these dynamics evolve, especially in light of the ongoing U.S.-China trade relationship.
**Minister:** Thank you for having me. It’s a critical time for all of us, and we are committed to navigating these challenges together.