According to Reuters, Mexican Economy Minister Marcelo Ebrard downplayed concerns about trade negotiations with the government led by the next US President Donald Trump in an interview, saying that Mexico’s potential impact on US companies may Make Trump reconsider imposing large-scale tariffs.
Marcelo Ebrard.
Photo source: Mexican government, Trump previously promised to implement a series of tariffs during his campaign for U.S. president, including tariffs on companies that transfer business to Mexico to increase U.S. jobs. Notably, Trump has proposed a 200% tariff on all cars imported from Mexico and a 200% tariff on China-related automakers that transfer production to Mexico.
Economists have warned that potential U.S. tariffs will deal a severe blow to the export-dependent Mexican economy and a lesser blow to the U.S. economy.
Marcelo Ebrard disagreed, citing the number of multinational companies setting up factories in Mexico.
“Any action that jeopardizes (U.S. -Mexico trade relations) means thousands of U.S. companies will be affected.
Because almost all important American companies invest in Mexico.
“, Luis Rosendo Gutierrez, Mexico’s Deputy Economy Minister, said the vast majority of investors he recently met in New York still want to invest in Mexico despite concerns about recent constitutional reforms in the United States.
Marcelo Ebrard also said that the world’s top automakers such as Ford Motor have no plans to move production out of Mexico.
Mexican officials have said Mexico’s biggest advantage in recent years has been its ability to attract record foreign direct investment.
This is part of the “near-shore” trend, in which multinational companies are moving their business closer to their final destination.
, However, Marcelo Ebrard and other Mexican officials downplayed U.S. concerns that China was using Mexico as a back door to avoid trade barriers.
Marcelo Ebrard said that only 0.
4% of China investment entering North America went to Mexico, while more than two-thirds went to the United States.
Marcelo Ebrard revealed that Mexico is preparing to meet with Trump’s team before Trump’s inauguration in January next year.
A trade agreement between the United States, Mexico and Canada will also be reviewed in 2026.
During his first term, Trump led a comprehensive revision of the U.S., Mexico and Canada Trilateral Agreement.
, In response to potential U.S. tariffs, Marcelo Ebrard also said last week that Mexico may take countermeasures.
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