La Jornada: This month, trade missions to China and India, highlights Ebrard

The Secretary of Economy, Marcelo Ebrard, affirmed yesterday that Mexico is experiencing a moment of commercial deployment without recent precedent, marked by the signing of the agreement with the European Union (EU) on the 22nd, the beginning of formal conversations for the review of the Free Trade Agreement with the United States on the 27th of the same month and the sending of trade missions to China and India before the end of May.

“Mexico is in a relevant commercial and economic deployment. This is the moment we are in,” said the official during his participation in a forum where he offered an overview of the federal government’s commercial strategy in the face of the reconfiguration of international trade promoted by Donald Trump’s administration.

Regarding the agreement with the EU, Ebrard specified that two instruments will be signed. One of global scope, which requires parliamentary ratification in the 27 member countries and in the Mexican Senate, and an interim trade agreement that will come into force immediately and that will eliminate practically all tariffs for Mexican exports, including those in the automotive and agricultural sectors. The government’s goal is to go from 23.8 billion dollars exported to the EU to 36.1 billion by 2030.

Regarding the relationship with the United States, Ebrard stressed that Mexico is that country’s largest trading partner and that Mexican purchases from the US economy collectively exceed those made by China, Japan and Germany.

That position, he said, is a central asset in the negotiation of the trade agreement. He indicated that Mexican exports have not fallen despite the sectoral tariffs applied by Washington, and that in the new tariff system imposed by Trump, Mexico maintains the best relative position among the main suppliers of the United States.

The T-MEC review, longer than expected

He anticipated that the review of the tripartite treaty will hardly have a quick conclusion, so the main current objective is to reduce uncertainty in this regard.

Thinking about a quick closing of the agreement – ​​Ebrard said – would imply reaching July 1, holding meetings and announcing that the treaty extends 16 years, a scenario that he described as “ideal”, but that he does not consider probable. “I don’t think it’s going to happen,” said the official after participating in the Building Opportunities forum.

He emphasized that after hearing the statements of Jamieson Greer, United States Trade Representative, it is likely that the review will extend beyond July 1, as planned, and that the negotiations may even lead to inconclusive periodic evaluations over the next 10 years.

In labor matters, the official ruled out that the recent reforms in wages and working hours are going to be a substantive element in the renegotiation of the treaty with the United States, in part because Washington is applying simultaneous restrictions to Asian competitors, which would make it counterproductive to also make Mexico more expensive.

Regarding India, Ebrard pointed out that it is an economy that is growing at rates of 8.5 percent annually and will displace several European countries in the coming years: however, Mexico has only 22 companies that operate in that nation, which he described as insufficient. The trade missions planned for this month will seek to expand that presence.