The tone of commercial conversations between the United States and Mexico is yielding, said the Secretary of Economy, Marcelo Ebrard, which allows him to project a review of the Trilateral Commercial Treaty with Canada (TMEC) with ups and downs, but also with productive agreements for the country.
Ebrard pointed out that the priority of his office is to give up negotiations – originally prevented for next year -, with the aim of recovering some stability in the commercial front that allows the country to resume the rhythm of investments and, therefore, mitigate the adverse effects on the economy. According to private estimates, the Mexican gross domestic product (GDP) is directed towards warm growth equal to zero, affected, among other things, by the threat of tariffs of the Donald Trump administration.
“The faster the uncertainty is reduced, the better it will be for investment and for our daily lives. In the second semester I am estimating that we are going to have talks with a view to the review being carried out as soon as possible. That is, we will achieve an agreement soon, so that for the investor and the consumer everything is much easier, clear and fast; and we do not have a prolonged uncertainty,” said the official on Tuesday.
When questioned about the United States position regarding the calendar, Ebrard replied: “I think we are on the same line.”
“Of course there have been many differences, and there will be, but the tone has been more and more cordial,” added the secretary, who explained that he constantly travels to Washington to meet with his counterpart, the secretary of Commerce, Howard Lutnick, and projects that this scheme will remain.
On the Mexican side, the urgency of reviewing the treaty is that the stagnation of investment intentions – both local capitals and foreigners – stopped by rapid changes in commercial decisions, is affecting fundamental indicators such as the progress of construction, consumption and credit. For its part, the change of tone by the United States also reflects the turn in Trump’s tariff policy, who has broken down his commercial war and has opted for bilateral agreements in key areas, given the forecast of greater negative impacts in the domestic sphere.
In that sense, Mexico expects “soon” to establish a system for reducing tariffs on steel and aluminum components, which currently pay a 25%rate, Ebrard said. The comment was made during an event of the brand made in Mexico, a stamp that exalts the quality products and services and local raw material, relaunched by the Executive as part of its campaign in the midst of Trump’s tariff offensive at the beginning of this year. The seal was granted to the Fintech Stori Unicorn, to the Digital Bank for SMEs Kapital and the Bank with Social sense Dondé.
For more updates, visit our homepage: NewsTimesWire
