Mexico and US Remain at Odds Over Trilateral Trade Deal

Mexico City (ANTARA) - Mexico and the United States (US) continue to hold differing views on several trade issues as the United States-Mexico-Canada Agreement (USMCA), the currently active North American free trade agreement, prepares to commence a joint review in July.

Mexican Minister of Economy Marcelo Ebranc stated this on Wednesday (1/7) during a press conference following a remote meeting with US Trade Representative Jamieson Greer and Dominic LeBlanc, the Canadian minister responsible for Canada-US trade.

During the meeting, Greer confirmed that Washington is currently unwilling to automatically extend the USMCA for the following 16 years. The three regional partners are working to review the 2020-2036 free trade agreement before its renewal.

Ebrard reaffirmed Mexico’s rejection of US tariff policies imposed on its steel, aluminium, and automotive products, as well as the establishment of seasonal import schemes for agricultural products.

He stated that the core issue in the negotiations involves updating the rules of origin and the mechanisms for verifying compliance, particularly regarding new provisions that the US administration wishes to introduce.

Furthermore, the USMCA review process will include a new chapter on economic security, he noted. This new topic concerns access to strategic minerals and the protection of supply chains amidst rising global economic and geopolitical tensions.

He added that the US-Canada trade meeting is scheduled to take place on 20 July.