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Mexico's Sheinbaum Urges US Accord on Vehicle Production Amid Trade Policy Impacts Image: Fernanda Rojas / EL UNIVERSAL
🇲🇽 Mexico /Economy & Trade

Mexico's Sheinbaum Urges US Accord on Vehicle Production Amid Trade Policy Impacts

From El Universal · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

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  • Mexican President Claudia Sheinbaum is pushing for an agreement with the United States to ensure continued vehicle production in Mexico.
  • She stated that the U.S.'s "new trade policy" has negatively impacted global economies, including Mexico's vehicle exports.
  • Sheinbaum also highlighted Mexico's "Plan Mexico" strategy to strengthen the domestic market and national production while pursuing public infrastructure projects.

Mexican President Claudia Sheinbaum Pardo is advocating for a bilateral agreement with the United States to safeguard vehicle manufacturing within Mexico. She emphasized that the economic repercussions of the U.S. administration's "new trade policy" are being felt globally, with Mexico experiencing a notable decrease in vehicle exports.

"Everyone has had economic impacts" due to the U.S. trade policy, Sheinbaum stated, adding that "some countries more than others, but everyone has had impacts and Mexico too." She explained that vehicles, once Mexico's primary export, have seen reduced export volumes following U.S. tariffs. "We want to reach an agreement with the United States, which we have been promoting for some time, to guarantee vehicle production in Mexico, for the domestic market and for export, in coordination with policies in the United States," she said.

We want to reach an agreement with the United States, which we have been promoting for some time, to guarantee vehicle production in Mexico, for the domestic market and for export, in coordination with policies in the United States.

— Claudia Sheinbaum PardoStating Mexico's goal for a coordinated vehicle production agreement with the U.S.

Sheinbaum noted that the majority of automotive companies operating in Mexico are foreign-owned, primarily from the U.S., Japan, South Korea, and Germany. Despite the global economic impact of U.S. trade policy, Mexico is pursuing its "Plan Mexico" strategy. This plan focuses on bolstering the domestic market and national production across various sectors, alongside strengthening public infrastructure through diverse financing mechanisms.

Looking ahead, Sheinbaum expressed optimism that the second half of the year will show economic improvement, driven by the ongoing development of significant public works projects. This strategy aims to mitigate the effects of external trade policies by fostering internal economic resilience.

Everyone has had economic impacts, some countries more than others, but everyone has had impacts and Mexico too.

— Claudia Sheinbaum PardoDescribing the global economic impact of U.S. trade policy.
About this summary

Originally published by El Universal in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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