Mexico and the US said on Thursday they will start talks on March 16 ahead of a review of the free trade agreement that has shaped both economies and kept some of their commerce steady despite US President Donald Trump`s constantly changing tariff policy.
The bilateral trade talks are ahead of a scheduled review later this year of the United States-Mexico-Canada Agreement, or USMCA, the latest version of free trade agreements among the US, Mexico and Canada, dating back to the early 1990s that have intertwined the economies of the three North American countries.
The USMCA has allowed Mexico to avoid much of Trump`s protectionist measures because many Mexican goods are covered by the free trade agreement. However, a number of products are not covered, including medium- and heavy-duty trucks, which face a 25 per cent tariff. A 50 per cent tariff on steel, aluminium and copper remains in effect, as does a 17 per cent tariff on Mexican tomatoes.
Mexico`s Economy Secretary Marcelo Ebrard said on X that the first round of upcoming bilateral talks was arranged with US Trade Representative Jamieson Greer, and that they would address issues related to rules of origin, increasing production, supply chain security and integrating economies to boost competitiveness against other regions. Greer`s office said that, after the initial talks, the two sides would “meet regularly thereafter.”
Relations among the three USMCA partners have been strained over the past year by Trump`s protectionist measures, which have set markets and investors on edge. Ebrard and other Mexican officials have been regularly travelling to Washington and meeting with American officials to try to offset tariff threats.
Mexico and Canada are also holding talks to strengthen cooperation on trade and security ahead of the USMCA`s scheduled review, six years after taking effect.
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