Mexico Must Address USMCA Concerns, Says Ebrard; Calls for 'Cool-Headed' Dialogue

Mexican Foreign Minister Marcelo Ebrard stated that Mexico must address the "legitimate concerns" raised by the United States and Canada regarding the USMCA trade agreement. He emphasized the need for a "cool-headed" dialogue to ensure the treaty remains effective and its scope can be expanded.

Ebrard acknowledged Mexico's continued dependence on other nations for critical sectors like pharmaceuticals, electronics, and artificial intelligence. He described the USMCA as potentially the most successful trade agreement globally but stressed that addressing legitimate concerns is crucial for its longevity. "If we want the Treaty to remain in force and expand its reach, we have to address the legitimate concerns that each party is raising and seek spaces for cooperation," he said.

The minister explained that listening to the concerns of both countries is essential for guaranteeing certainty and attracting investment over the next decade. This comes after Mexico, the U.S., and Canada agreed to maintain the USMCA until 2036. Ebrard highlighted that dialogue, reasoned arguments, and perseverance are key to building constructive conversations, citing the numerous rounds of talks that led to the agreement not to withdraw from the treaty, a primary objective for Mexico.

Recalling U.S. President Donald Trump's past statements about modifying or ending the USMCA, Ebrard noted that the trilateral dialogue aims to foster production through annual reviews. He asserted that Mexico, the U.S., and Canada form the world's most significant economic bloc, with Mexico being a major importer of U.S. products. This interdependence, he believes, gives the U.S. a strategic interest in Mexico's success, making open communication about concerns and progress vital for managing review scenarios.

President Claudia Sheinbaum added that the Mexican peso's value remained stable following the virtual meeting, countering expectations of economic nervousness. The dollar was trading at 17.54 pesos, indicating a lack of significant market reaction to the discussions.