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Amcham foresees more tension in T-MEC review; Canacero seeks to reduce steel tariffs
🇲🇽 Mexico /Economy & Trade

Amcham foresees more tension in T-MEC review; Canacero seeks to reduce steel tariffs

From El Universal · (43m ago) Spanish Critical tone

Translated from Spanish, summarized and contextualized by DistantNews.

TLDR

  • Mexican business groups are anticipating increased tension during the upcoming T-MEC review, driven partly by the US presidential elections.
  • They are seeking a reduction in US tariffs on Mexican steel exports, arguing these tariffs create a disadvantage and hinder free trade within North America.
  • While bilateral talks are ongoing, businesses emphasize the need to understand Donald Trump's "different game" and secure legal certainty for investment despite potential trade policy shifts.

The Mexican business sector is bracing for a more contentious period as the review of the T-MEC (USMCA) approaches. The American Chamber of Commerce Mexico (AmCham) anticipates heightened friction in discussions, particularly with the looming US presidential elections in November casting a long shadow over trade relations. The current US trade policy, characterized by the imposition of tariffs, is seen as a significant impediment to fair competition and free trade within the North American region.

los aranceles que impuso el gobierno de Estados Unidos sobre productos mexicanos de exportación los ponen en desventaja, por lo que buscarán una reducción arancelaria, considerando que no habrá libre comercio, sin embargo, esperamos que rumbo a la revisión del T-MEC haya mayor ruido en las conversaciones.

— El UniversalHighlights the disadvantage caused by US tariffs on Mexican exports and the expectation of increased tension during the T-MEC review.

AmCham, represented by Óscar del Cueto, has directly communicated to US trade representative Jamieson Greer that existing tariffs place Mexican exports at a disadvantage. The argument is clear: while tariffs generate substantial revenue for the US government, they disrupt supply chains and complicate the production of goods within North America. The focus, therefore, is on strengthening regional supply chains and re-evaluating the rules of origin to foster a more equitable trade environment.

la política estadounidense actual no es de libre comercio, sino de imposición de aranceles, por lo que ya se le planteó al representante comercial de Estados Unidos, Jamieson Greer, que los aranceles nos ponen en desventaja porque hay países que tienen menos aranceles.

— Óscar del CuetoÓscar del Cueto, president of AmCham Mexico, states that current US policy is not free trade but tariff imposition.

Sergio de la Maza, president of the National Iron and Steel Industry Chamber (Canacero), echoes these concerns, specifically highlighting the 50% tariff on steel exports to the US market. While acknowledging the difficulty of achieving a tariff-free world, Canacero is actively working towards an exception that would benefit the integrated steel chain. The underlying message from the Mexican business community is one of resilience and strategic adaptation. They acknowledge the unpredictable nature of US trade policy, particularly under figures like Donald Trump, but stress their commitment to remaining in Mexico. Their primary demand is legal certainty within the T-MEC framework to ensure continued investment and growth.

las exportaciones de la industria del acero hacia el mercado americano tienen arancel de 50%, sin excepción, desafortunadamente “el mundo sin aranceles se ve difícil hacia adelante”.

— Sergio de la MazaSergio de la Maza of Canacero details the 50% tariff on steel exports and the challenging outlook for a tariff-free environment.
DistantNews Editorial

Originally published by El Universal in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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