Introduction
Mexican President Claudia Sheinbaum recently expressed her satisfaction regarding the preferential tariff treatment under the US-Mexico-Canada Agreement (USMCA), as Mexico was excluded from U.S. President Donald Trump's new tariff measures.
Context
During her regular morning press conference on April 3, President Sheinbaum emphasized the positive implications of the trade relationship between Mexico and the United States. She noted, "This is good for the country," highlighting the collaborative efforts between the two governments.
Developments
- On April 2, President Trump announced a minimum tariff of 10% on nearly all imports into the U.S., targeting key trading partners such as China and the European Union with significantly higher levies.
- Mexico's Economy Minister Marcelo Ebrard described the exclusion from these tariffs as a "great achievement," reinforcing the effectiveness of the USMCA treaty amidst the new trade regime.
- Ebrard stated that Mexico's objective over the next 40 days is to secure the best possible trade conditions.
- President Sheinbaum indicated that the Mexican government will unveil additional measures later in the day to strengthen the country's negotiating position in future discussions.
Conclusion
As Mexico relies heavily on the U.S. market, sending 80% of its exports there, the nation's exclusion from new tariffs presents a significant opportunity to enhance its trade relationships and stability amid evolving global trade dynamics.