MEXICO CITY — Mexico’s Financial system Secretary Marcelo Ebrard stated Tuesday that he’ll meet with Trump administration officers in Washington on Thursday in what he referred to as “the primary dialog” in a sequence of negotiations between the 2 international locations.
The assembly comes at a fragile second for the 2 neighbors, whose bilateral commerce exceeded $800 billion final 12 months. U.S. President Donald Trump has threatened to impose 25% tariffs on all imports from Mexico — although thus far restricted them to metal and aluminum — and signed an govt order to rename the Gulf of Mexico because the Gulf of America.
“In our first assembly, we’ll make clear the proposals put forth by the USA, and what the brand new administration goals to attain,” Ebrard instructed reporters on Tuesday. “Then we’ll put Mexico’s arguments on the desk, significantly these regarding the (financial) integration between the 2 nations.”
Ebrard stated he would meet with Secretary of Commerce Howard Lutnick and numerous Trump officers in a dialog that will give attention to the metal and aluminum tariffs, in addition to the significance of the nation’s bilateral commerce relationship. Ebrard added that he hoped to make a variety of different proposals to “enhance” the present commerce relationship.
In the meantime, Trump’s wider tariff menace looms, one thing analysts say might set off a recession in Mexico. The imposition of broader tariffs would seemingly begin a commerce battle, with Mexico President Claudia Sheinbaum promising reciprocal tariffs, each of which might lead to value will increase for American customers.
Whereas Mexico has sought to diversify its commerce relationships, economists say many years of free commerce and geographic proximity restrict its potential to make important adjustments within the brief time period.
Ebrard on Tuesday appeared decided to keep away from an escalation.
“Our response won’t ever be rancor or battle, however quite a continued effort to maneuver ahead,” Ebrard stated.
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